I don't think so. Remember that Portugal had a global empire to look after, colonies in the Atlantic, in America, in Africa and in India (Without mentioning in Australasia, which probably won't be in the game), meaning you have to defend them all, scattered around the world, and defend them with a smaller population basis (In gameplay perspective, I suppose it would be through many less provinces. One or two.) than the Spanish while, the said people only have to tend after their continuous American Empire, needing not to bother with India, for instance.
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