Public debt of the Republic of Serbia in the new millennium: Analysis of the situation and future trends

The subject of research in the paper is focused on the analysis of public debt in the Republic of Serbia in the time interval from 2000 to the end of 2022. Observing the data on the movement of public debt in the new millennium, it is noticeable that there is a trend of its increase after the world economic crisis of 2008. The main cause of such trends is the excessive consumption of state authorities and the reduction of tax revenues, which is a consequence, first of all, of reduced economic activity due to global negative tendencies in certain years. The high level of public debt represents the main barrier for the economic development of the Republic of Serbia. Analysis of the data in the observed period indicates that the problem of public debt growth can be solved by increasing the gross domestic product and reducing public spending.