[9][10] The Zajedno (English: "Together") coalition won a majority victory in Niš, but the Serbian government, dominated by the Socialist Party, did not initially recognize the result.

[13] One month after his appointment, he announced that the government would pursue charges against business leaders who had created "false shortages" and raised their prices following a recent currency devaluation.

[14] He later said that his ministry's priority would be to fight against monopolies that had created artificial shortages, introduced price pressures, and imported unneeded raw materials.

[16] In early May 1999, he announced that Serbia was facing a shortage of gasoline and oil derivatives due to NATO bombing raids on country's oil-refining facilities; he added that the country was facing a shortage of cigarettes due to the Niš Tobacco Industry only working a few hours a day, when the air-raid sirens were not in force.

In late 1999, Krasić announced that Serbia would use "subsidies, bonuses, allowances, tax and contribution relief, and other means" to avoid price increases in staple goods.

[20] Bosnian Serb Television subsequently reported in February 2000 that his ministry had unexpectedly blocked food exports from Yugoslavia to the Republika Srpska.

[21] SPS leader Slobodan Milošević was defeated in the 2000 Yugoslavian presidential election and subsequently fell from power on 5 October 2000, a watershed moment in Serbian politics.

)[25] He was, however, awarded a mandate on 18 March 2003 as a replacement for party leader Vojislav Šešelj, who had resigned to face war crimes charges at the International Criminal Tribunal for the Former Yugoslavia (ICTY) in The Hague.

[30] In June 2006, Ivana Dulić-Marković, an ethnic Croat from the G17 Plus party, was appointed as a deputy prime minister in Vojislav Koštunica's government.

When the appointment was announced in parliament, Krasić accused Dulić-Marković's family of having been Ustaše during World War II and made the disparaging comment, "Take your deputy prime minister Dulić-Marković and let her bring her Ustaše to be her advisers [...] That is the same woman who has said that [Milošević's] government slaughtered and transported people in bloody containers, etc..."[31] Krasić's comments were widely condemned.

[32] Serbian president Boris Tadić and others described the remarks as hate speech that targeted the minister because of her ethnic origins, while G17 Plus sought to ban the Radical Party over the incident.

[33] Aleksandar Vučić, at the time secretary-general of the SRS, responded that Krasić had referred to Ustaše in an ideological rather than an ethnic sense and rejected calls for an apology.

[37] Krasić received the tenth position on the SRS's list in the 2007 parliamentary election and was given a mandate for a third term when the party won eighty-one seats.

[41][42] The overall results of this election were inconclusive, but the For a European Serbia (ZES) alliance eventually formed a coalition government with the Socialist Party, and the Radicals again served in opposition.

[43][44][45] He was part of Šešelj's legal defence team during this time, and in July 2008 he spoke at a rally opposing the extradition of former Bosnian Serb political leader Radovan Karadžić to The Hague.

[50] When Šešelj experienced serious health issues in early 2012, Krasić urged the tribunal to end what he described as its "torture" of the SRS leader and permit him to return to Serbia.