Brazil: presidential candidates declare expenses of 27.4 million euros

Brazil's presidential candidates declared expenses totaling 27.4 million euros (160.7 million reais) in the election campaign for the first round on October 4.

About 80% of the total was spent by the two main competitors: outgoing President Luiz Inacio Lula da Silva and Senator Flavio Bolsonaro. According to data from the Superior Electoral Tribunal (TSE), collected by the Poder360 portal up to 2pm on Friday 2 October, Lula declared expenses of 11.2 million euros (65.7 million reals), followed by Bolsonaro with 10.7 million euros (63 million reals). The other candidates recorded overall expenses of around 5.5 million euros (32 million reais).

Campaign financing in Brazil is largely based on public resources. The parties can use the Special Campaign Financing Fund (Fefc), fed by the public budget and distributed among the political formations according to legal criteria, and the Party Fund, intended for the functioning of the parties and which can also be used for electoral expenses. Donations from natural persons and the use of the candidates' own resources are also permitted, in compliance with the limits and transparency obligations. Corporate donations are prohibited. All income and expenses must be registered and reported to the electoral justice, with specific bank accounts and identification of the source of the funds.