Long-term woes seen for Vatican budget
July 29, 2024
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CWN Editor's Note: The Italian newspaper La Repubblica has forecast serious long-term budget problems for the Vatican.
In an analysis of budget figures released last week, the paper notes that the Vatican ran a deficit of $90 million in 2023, with income of $1.25 billion outstripped by expenses of $1.34 billion. That deficit occurred despite significant cuts in spending and an increase in revenues.
The long-term problem, La Repubblica reports, is a downward trend in donations, reflecting the decline in the number of active Catholics in the world’s wealthy nations. Meanwhile rising costs and underfunded pension systems point to more difficult budgetary problems in the near future.
The budget figures released for the Vatican on July 26 by the Council for the Economy do not include revenues from the Vatican Museums and the Institute for Religious Works, the Vatican bank.
The above note supplements, highlights, or corrects details in the original source (link above). About CWN news coverage.
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