Financial reports reveal spending disparities among presidential campaigns in Iceland

The 2024 presidential election campaigns have released their financial reports, revealing significant differences in spending. Halla Tómasdóttir’s campaign totaled 26 million Icelandic krónur, while former Prime Minister Katrín Jakobsdóttir’s campaign expenses exceeded 57 million krónur, more than double Halla’s costs.

The deadline for presidential candidates to submit their expense reports to the National Audit Office has recently passed. The audit office has already reviewed the financial details of four candidates: Halla, Katrín, Jón Gnarr, and Ástþór Magnússon Wium.

Katrín’s campaign expenditure of just over 57 million krónur included nearly 42 million krónur raised from individual donations, around nine million from businesses, and her own contribution of three million krónur. Advertising and promotional costs accounted for approximately 26 million krónur, with the campaign office costs at nearly 12 million krónur and events and travel expenses around nine million.

Halla’s campaign, in contrast, attracted around 22 million krónur in funding, with 12 million from businesses and 10 million from individuals. She contributed 3.5 million krónur herself, with most of her backing coming in cash donations, as well as in-kind contributions like office use valued at 400,000 krónur.

Jón Gnarr’s campaign expenses were about 11 million krónur, with support mainly from individuals. Ástþór Magnússon’s costs were just under nine million krónur, with the bulk of his contributions coming from personal funds.

Advertising emerged as the largest expense for both Halla and Ástþór’s campaigns, highlighting the significant financial demands of electoral efforts in Iceland. The reports of other candidates will be disclosed once reviewed by the authorities.