Andrey Gyurov and Georgi Kandev Campaign Funding Relies Heavily on Three Major Donors
Three donors have provided the vast majority of the campaign financing for presidential candidates Andrey Gyurov and Georgi Kandev, according to data from the Audit Office register published by segabg.com. Businessmen Tenko Nikolov, Ivo Tzanov, and Kaloyan Danchev each donated 100,000 euros, contributing to a total of 375,600 euros raised by the candidate’s initiative committee as of 3:00 p.m. on October 12.
The financial disclosures show that neither the candidates nor the members of their initiative committee contributed any personal funds to the campaign. Instead, the heavy lifting comes from the three external businessmen. Kaloyan Danchev listed employment income as the source of his funds in his required declaration of origin. Ivo Tzenov attributed his contribution to company dividends from SiteGround Capital Ltd., while Tenko Nikolov pointed to SiteGround Hosting EOOD.
By contrast, the committee backing the presidential ticket of Iliana Yotova and Kiril Valchev raised 277,905 euros, largely through smaller contributions of 500 euros or less. These smaller sums fall beneath the 620.20 euro threshold that triggers a mandatory declaration of origin. Kamen Alexiev provided the largest single donation for Yotova’s camp at 14,900 euros, citing employment income from Rezon OOD. Former lawmaker Petar Kanev was the sole committee member to donate to Yotova, contributing 5,000 euros from commercial or employment activities.
Ivan Hristov Self-Funds While Other Contenders Report Modest Totals
Hristov secured a total of 104,573.50 euros in cash donations alongside 169,998 euros in non-cash donations. His origin declarations state that all of these funds originate from loans.
The initiative committee supporting Elin Pelin Mayor Ivaylo Simeonov gathered 75,000 euros, primarily through donations of 5,000 euros each. Most donors in Simeonov’s committee cited savings and salaries as their funding source, with one reporting income from a property sale. Simeonov and his running mate each contributed 5,000 euros from employment savings.
Meanwhile, the committee supporting former judge Rumyana Chenalova reported 397 euros in public donations, supplemented by 1,540 euros from committee members and the vice-presidential candidate Georgi Georgiev. The remaining 22 candidate pairs running for the presidency have not declared any campaign financing to date.
Frequently Asked Questions About the Presidential Campaign Financing
What is the financial threshold that requires a declaration of origin in Bulgaria’s presidential elections?
Donations exceeding 620.20 euros require contributors to submit a declaration detailing the origin of their funds, according to the Audit Office register data.
How much total funding have Andrey Gyurov and Georgi Kandev accumulated?
The initiative committee backing Andrey Gyurov and Georgi Kandev has raised a total of 375,600 euros, propelled largely by three individual donations of 100,000 euros each from businessmen Tenko Nikolov, Ivo Tzanov, and Kaloyan Danchev.
Did any members of Andrey Gyurov and Georgi Kandev’s initiative committee contribute financial support?
No, neither the candidates themselves nor any members of their initiative committee made financial contributions to the campaign, based on Audit Office disclosures filed as of October 12.
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