In the long-term, about SKK 10 billion could be annually allocated from the state budget for the construction of highways, therefore the acceleration of the construction will depend on the use of private financing, said Finance Minister Ivan Miklos at a press conference on Tuesday. The use of the private sources is, however, limited by the Maastricht criteria limiting the indebtedness of the countries. According to Mr. Miklos the completion of the northern route of highway from Bratislava to Kosice can be expected in 2012 to 2016, in contrast to 2010 announced by Transport Minister Pavol Prokopovic.

Mr. Miklos also said that private investors could secure long-term resources for the construction and purchase of concessions to operate highway sections. He, however, pointed out that due to limited traffic and purchase power of the population in Slovakia, highway tolls and the revenues from the concession fees will not cover these expenses. The government will have to refund a part of the construction costs. Although the refunding may be put off to a later date by a contract, there arises the problem of meeting the criteria for limits of indebtedness for countries of the European Union.

According to Mr. Miklos, the draft state budget for 2004 projects to allocate SKK 8.5 billion for highway construction, what is SKK 1.8 billion less than requested by the Transport Ministry. Mr. Miklos, however, said that the state budget earmarked SKK 5 billion as reserves for so far unspecified priorities of the cabinet.