Egypt's National Elections Authority has set a cap of 20 million Egyptian pounds ($1.3 million) on campaign financing for each candidate running in the upcoming presidential elections, Ahram Online reported Tuesday (January 16th).
The ceiling for campaign financing during the run-off period – if one were to take place – is set at five million pounds ($282,000), the authority said.
Candidates must mostly finance their campaigns with their own private funds, and are allowed to receive donations of no more than 2% of the funding limit.
The decision also prohibits contributions from foreign countries, organisations or individuals. It requires candidates to keep a detailed record of contributions and their sources, which are to be presented to the authority one day after the end of the campaigning period.
Candidates are to deposit the campaign funds in a bank account that will serve as the sole source of campaign expenditures, with the authority to be informed of all transactions.
According to the election timeline announced by the authority last week, candidates must register their candidacy between January 20th and 29th.
The campaigning period will start February 24th and end March 23rd, with elections set for March 26th to 28th.
If no single participant wins a majority vote in the first round, a run-off will be held April 24th to 26th.
