This is the value calculated under Maastricht rules, which are those that Brussels considers.

The value calculated by the Bank of Portugal (BdP) is slightly higher than the goal set by the government for 2018 (121.2 percent).
According to the BdP Statistical Bulletin, the public debt shrank, compared with the previous quarter, when the country had a debt-to-GDP ratio of 125 percent.

The Portuguese central bank also mentioned that in January 2019 the overall public debt amount reached €248 billion - a €3 billion rise compared to the end of 2018.

“This growth was chiefly due to an increase in debt securities”.

General government deposits rose by €3.9 billion, with public debt net of deposits increasing by €900 million from the previous month, to a total of €227.4 billion.

For 2019 the government forecasts a decrease in debt-to-GDP ratio to 118.5 percent.