Abstract
Despite the fact that public debt (loans) attracted on behalf of the state or under its guarantees is a fast and affordable financial resource in relation to the state budget and public-private partnership agreements on financing economic reforms carried out by the state, in many cases it becomes more expensive compared to the capital that can be attracted to re-equipment of an enterprise with state participation. This makes it necessary for the state to take many measures to develop the local capital market. This article, analyzing public debt, examines the role of the development of the market of government securities or corporate securities in reducing the negative consequences of public debt and outlines its proposals to strengthen this value.
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