Vatican releases balance sheet for property investments
August 14, 2023
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CWN Editor's Note: The Administration of the Patrimony of the Apostolic See (APSA) , the office that handles the Vatican’s real-estate investments, has made public its balance sheet for 2022.
In light of the scandal caused by disastrous investments handled by other Vatican offices (most notably the Secretariat of State), the APSA report emphasized that the office does not engage in speculative ventures, but focuses on “lower rates and proven social impact.” Archbishop Nunzio Galantino, the president of APSA, said: “We are all now convinced that the Church’s reputation in the management of what is entrusted to it by the generosity of the faithful is a prerequisite for the credibility of its proclamation.”
The figures show that the Vatican’s holdings grew in value by €32 million last year, bringing the total of €1.77 billion.
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