According to the most recent report of the Transparency for Colombia Corporation a few days before the elections, the campaigns “record revenues totaling $40,469,520,599 and expenses amounting to $25,149,017,870.”
Colombia News.
There are four days left for the so-called ‘great day’ of the presidential elections that will take place in Colombia. An electoral contest marked by a congested news, controversial agenda, alliances and campaign to reach the Casa de Nariño. During the previous week, the deadline for closing campaigns with massive events ended.
Two of the candidates held mass meetings in public squares, while others held meetings and tours.
Throughout the campaigns and after the closures, many organizations have been making reports based on expenses and income, one of these is the Transparency for Colombia Corporation, who this Wednesday, May 25, revealed their most recent compilation of data based on delivered by the candidates’ work team.
Income $40,469,520,599 – expenses $25,149,017,870
According to the report of the Corporación Transparencia por Colombia -TpC-, national chapter of Transparency International, dated Wednesday, May 25, 2022:
- “Although there is an increase in the registration of campaign income and expenses compared to the previous report, five days before the elections (5/25/2022), the eight presidential campaigns collectively register income for a total of $40,469,520,599. and expenses amounting to $25,149,017,870».
Figures that, according to what was reported, “remain low if one considers that the maximum limit allowed for the expenses of each campaign for the first round is $27,453,094,557.”
Regarding data related to income, they specify that “loans from the financial sector represent 74% of the income reported to date and are the main source of financing, especially for the four candidates who are leading the polls.”
However, what is paradoxical is that “no campaign has recorded income related to state advances.”
What for the Transparency for Colombia Corporation would show again that “state funding is not working in practice, despite its importance to improve equity in electoral contests.”
“Campaigns may not be recording their spend in real time”
As for campaign spending, “electoral propaganda concentrates 72% of the total reported figures,” they indicate.
Adding that for the most part, “these resources are being used for advertising through magazines, television, social networks, radio spots or loudspeakers.”
Regarding the expenses registered for public acts, they detail that there was an increase between the previous and the most recent report, “going from $144 million to $504 million.”
But “their report still does not seem comparable with the number of events carried out by the different presidential campaigns, for example, the closing days of campaigns that took place on May 22,” they published.
Likewise, they assure that it generates concern “that the sum of expenses of the candidates who report the most does not reach 30% of the established campaign ceiling”:
- “Campaigns may not be tracking their spending in real time, as required by law.”
Data of the Alliance for Citizen Control of Campaign Financing / Transparency for Colombia Corporation -TpC-, national chapter of Transparency International.
