Cyprus Mail

Neophytou files his election campaign expenses

Averof Neophytou

Former Disy leader Averof Neophytou spent €975,522 for his presidential election bid, details of his campaign financials published on Wednesday revealed.

The total amount of money that flowed into his campaign efforts amounted to just over €1 million or more specifically €1,069,161. The €93,638 difference was returned to his Disy party thus balancing the books.

Donations from natural persons reached €71,550 and donations from legal entities were at €416,000.

Disy’s funding amounted to the largest chunk of the income backing his campaign, at €530,000. Payments from the party for his election bid reached €39,999. Non-monetary contributions exacted to €11,613.

A table listing a breakdown of his income and expenditure related to the campaign specified no donations exceeded €50,000.

The biggest donors were the shipowner’s union, Treppides and CO, Fiduserve management, FX PRO Financial Services, Duat WB, TCR International, which donated €50,000 each. Cybarco donated €20,000.

Neophytou’s expenses were largely made up of advertisements which took up €346,344 and his communication which amounted to €312,053.

Printing costs and admin took up €71,952 and €78,285 respectively. Costs of his headquarters reached €74,222 while the rent was €32,513. Party payments amounted to €39,999 while election gatherings came at a cost of €19,353. Banking costs were €801.

Presidential candidates are required by law to publish their campaign spending within two months at the most from the date of the election. The details are also sent to the chief retuning officer who will forward the filings to the audit office by April 28.

The first to publish the details of his campaign was Akel-backed Andreas Mavroyiannis who spent €1.2 million on his election campaign. Incumbent President Nikos Christodoulides published his a day earlier, revealing €1,019,356 in spending.

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