• Energy Research
• 2016-2025close
• 7. Clean energy close
• 8. Economic growth close
• Serbian close

The aim of this research is to analyze the budget deficit sustainability and by doing so determine whether the government can use it to reduce the negative consequences without compromising the overall balance. In the recent decades, some developed countries have been facing extremely high budget deficits, which attracts great attention of economists. The risk of default is hanging like the Sword of Damocles above the heads of some EU members and everyone agrees that the increase in public debt is unsustainable. State budgets begin to resemble a Ponzi scheme - let usjust mention the US federal deficit. This is also a central issue for the EMU, because debt cannot continue to grow faster than the national income. Over time, an increasing part of the budget has been dedicated to debt servicing, until finally its amount does not force the authorities to finance debt either by printing money or by defaulting. This paper points out that solutions are possible if the executive state authorities abandon the unreasonable spending and the neo-liberal concept of managing the economy. But without compelling changes of the country's economic policy, the risk will reach the point where the adverse effects become inevitable.

Although the issue of energy security is highly positioned on the scale of priorities of each country, for now there is no commonly accepted definition of energy security. The definitions of energy security can be divided into two groups. The first group consists of definitions that are focused on short-term approach where the focus is on energy supply. The second group is characterized by longterm approach, this type of definitions take a broader aspects of energy security as well as economic indicators and environmental indicators. Although there are a number of definitions and different approaches to energy security, the interest for methodology of calculation of energy security is not so large. Existing methods for quantitative expression level of energy security, in most cases are based on short-term approach, while methods based on the wider concept are mostly the composite indices that include a large number of individual indicators. In this way enable a more comprehensive approach, but practically speaking there are limits to measure because the big problem is the availability of data.