"Somewhere around €265,000 is owed. These are, unfortunately, debts incurred by the party and we are working on them all the time. Our aim is to clear a large part of these debts by the end of this year," Vanaselja told ERR on Tuesday.

ERR asked Vanaselja how he assessed the party's general financial situation.

"We are also getting more and more permanent supporters and people who see that Parempoolsed is needed in the political landscape and who understand that if we are to build a party in the coming years, we need to put our weight behind it. We're not so worried about how we're going to go into the next election or whether we're going to continue as a party. That is not the question today," he said.

Vanaselja said the party is not currently in a situation where it can hire paid employees.

"We need a paid team to build the party. Building a professional organization inevitably requires that there should also be a couple of people within the party who are full-time and dedicated only to that. This is something we cannot afford today until we have cleared our debts," said Vanaselja.

Parempoolsed was formed in 2022 and ran in the 2023 general election in March but failed to clear the 5 percent threshold. It was founded by former Isamaa members.

2022 report shows €130,000 debt

Parempoolsed finally presented its 2022 financial year report on Wednesday which shows the party is €130,000 in debt.

The party received €92,929 in donations and subsidies last year, the report shows. However, its operating and labor costs totaled €223,315.

The party delayed submitting its report as there were issues with registration, said party vice-chairman Kristjan Vanaselja.

"The entries to become a political party were officially accepted by the business register in October 2022, and as a result, we planned to submit the annual report together with the 2023 report," explained

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