This paper analyses the fluctuation of interest on the public debt, as one of the oldest kinds of transfers which is closely related to the indebtedness of the state. The analysis of the expenditure dynamics for interest on public debt covers the period between 2003 and 2013. The goal of this research is to point out the efficiency of the activity of the economic policy within the analyzed period based on the relative changes in the transfer volume and the structure of the interest repayment, as well as to make certain projections for the future. Based on the analysis conducted, it was concluded that the fall of economic activity in 2009 had a significant effect on debt, which caused a drastic increase of the interest repayment transfers in the following years.