The newspaper cited an unnamed government source who said allowing Djokovic to remain in the country and play in the Australian Open would set a "dangerous precedent".
The source said the government was prepared to endure an international backlash to uphold, in its view, the national interest.
A final decision has not been made, however.
The world number one took to Instagram on Wednesday to spell out exactly what he did on the days before and after his positive Covid result last month, "in the interest of alleviating broader concern in the community".
In his statement, Djokovic said he attended a basketball game in Belgrade on December 14, after which a number of people tested positive to Covid.
He said he took a rapid antigen test on December 16, despite having no symptoms, which came back negative, and then out of "an abundance of caution" also took a PCR test on the same day.
"The next day (December 17) I attended a tennis event in Belgrade to present awards to children and took a rapid antigen test before going to the event, and it was negative," Djokovic wrote.
This is the event at which Djokovic was pictured maskless with a group of children.
"I was asymptomatic and felt good, and I had not received the notification of a positive PCR test result until after that event," he continued.
However, Djokovic's sworn affidavit submitted to the court said he was "tested and diagnosed" on December 16. A copy of his test result also shows December 16 as the date of result and the time as 8:20pm.
That leaves a significant gap in time between the apparent completion of Djokovic's test and the point at which he says he was notified.
The maximum penalty for giving false testimony under the Crimes Act is a prison sentence of five years.
In his Instagram statement, Djokovic went on to say that on December 18 he went to an interview with French publication L'Equipe at his tennis centre to "fulfil a longstanding commitment".
"I felt obliged to go ahead and conduct the L'Equipe interview as I didn't want to let the journalist down, but did ensure I socially distanced and wore a mask except for when my photo was being taken," he wrote.
"While I went home after the interview to isolate for the required period, on reflection, this was an error of judgment and I accept that I should have rescheduled this commitment."
In an earlier interview with the BBC, Serbian Prime Minister Ana Brnabic said if Djokovic went out knowing he had a positive PCR result, it would be a "clear breach" of Serbia's Covid restrictions.
"If you're positive you have to be in isolation," she said.
The maximum sentence under Serbia's criminal code for failure to act pursuant to health regulations during epidemic is three years imprisonment.
Djokovic's public statement comes after a major German newspaper published a report raising fresh questions about his positive test, and asking whether it may have been "manipulated".
According to an investigation by Der Spiegel, the digital timestamps on Djokovic's test result – accessed via Serbia's public central test registry – suggest the test was not from December 16, but rather 2.21pm on December 26.
However an alternative explanation raised by the paper is that it was downloaded by Djokovic on December 26.
