Campaign financing is primarily regulated by the Law on Financing Political Activities (LFPA) and the 2019 Law on Prevention of Corruption (last amended in 2022), supplemented by regulations of the Agency for Prevention of Corruption (APC). The Law on Financing Political Activities adopted in February 2022 addresses several previous repeated recommendations, such as lowering donation limits, introducing interim reporting on donations and expenditures and establishing ceilings on political party membership fees and loans. However, some previous Venice Commission and ODIHR recommendations remain unaddressed, including those pertaining to the improvement of the oversight mechanism and the introduction of a campaign expenditure limit. The Venice Commission and ODIHR reiterate these recommendations. The remaining shortcomings and limited enforcement diminish the transparency and effectiveness of the campaign finance framework, as underlined by election observers at the occasion of the 2022 elections. Many interlocutors reported mistrust in the effectiveness of the regulatory system as currently implemented.