diff --git a/Misc/NEWS.d/next/Build/2022-07-14-11-13-26.gh-issue-94847.s3Kr5p.rst b/Misc/NEWS.d/next/Build/2022-07-14-11-13-26.gh-issue-94847.s3Kr5p.rst
new file mode 100644
index 00000000000..a6d1e7277da
--- /dev/null
+++ b/Misc/NEWS.d/next/Build/2022-07-14-11-13-26.gh-issue-94847.s3Kr5p.rst
@@ -0,0 +1,2 @@
+Fixed ``_decimal`` module build issue on GCC when compiling with LTO and
+pydebug. Debug builds no longer force inlining of functions.
diff --git a/configure b/configure
index df6b193433e..d607c5e5d37 100755
--- a/configure
+++ b/configure
@@ -12522,6 +12522,12 @@ else
   LIBMPDEC_LDFLAGS="-lm \$(LIBMPDEC_A)"
   LIBMPDEC_INTERNAL="\$(LIBMPDEC_A)"
 
+    if test "x$with_pydebug" = xyes; then :
+
+    as_fn_append LIBMPDEC_CFLAGS " -DTEST_COVERAGE"
+
+fi
+
 fi
 
 
diff --git a/configure.ac b/configure.ac
index 1aa1c298ffe..c5924169e03 100644
--- a/configure.ac
+++ b/configure.ac
@@ -3697,6 +3697,11 @@ AS_VAR_IF([with_system_libmpdec], [yes], [
   LIBMPDEC_CFLAGS="-I\$(srcdir)/Modules/_decimal/libmpdec"
   LIBMPDEC_LDFLAGS="-lm \$(LIBMPDEC_A)"
   LIBMPDEC_INTERNAL="\$(LIBMPDEC_A)"
+
+  dnl Disable forced inlining in debug builds, see GH-94847
+  AS_VAR_IF([with_pydebug], [yes], [
+    AS_VAR_APPEND([LIBMPDEC_CFLAGS], [" -DTEST_COVERAGE"])
+  ])
 ])
 
 AC_SUBST([LIBMPDEC_CFLAGS])