The Portuguese government has admitted that it has missed its 2010 budget deficit target.
Total borrowing for the year was 8.6% of GDP. The target agreed with Brussels was 7.3%.
It blames the excess borrowing on the inclusion of losses at state-owned transport companies and a bank.
Portugal's cost of borrowing has risen sharply as bond markets increasingly anticipate a debt default by the country.
The yield on Portuguese two-year bonds hit 8.6% on Thursday, its highest since Portugal joined the euro in 1999.
Meanwhile, President Anibal Cavaco Silva has announced early elections will be held on 5 June.
Prime Minister Jose Socrates resigned eight days ago when parliament rejected a new austerity programme put forward by his government.