Major renovations, infrastructure upgrades and a sluggish global economy left the Vatican City State budget in the red; however, donations to the pope were up from recent years. The 2009 fiscal period marked the third year in a row that Vatican expenses outpaced revenues. The budget of Vatican City State, which includes the Vatican Museums and post office, ended 2009 with a deficit of $9.8 million, the Vatican said in notes on the budgets released July 10. The separate budget of the Holy See, which includes the offices of the Roman Curia, finished 2009 with a registered deficit of more than $5.15 million. The figures were released in early July after a three-day meeting of a council of cardinals charged with reviewing the Vatican budgets. In explaining the city-state's deficit, the council's press statement mentioned that the Vatican Museums had opened new exhibition spaces and had extended visiting hours, which means the payroll grew. Vatican City is also launching a major overhaul of its telecommunications infrastructure in which a high-speed fiber optic network will be installed over some 250 miles.
Major Renovations, Economy Put Vatican in the Red
Show Comments (
)
Comments are automatically closed two weeks after an article's initial publication. See our comments policy for more.
The latest from america
Arthur Miller’s “Death of a Salesman,” which turns 75 this year, was a huge hit by any commercial or critical standard. In 1949, it pulled off an unprecedented trifecta, winning the New York Drama Circle Critics’ Award, the Tony Award and the Pulitzer Prize for Drama. So attention must be paid!
In Part II of his exclusive interview with Gerard O’Connell, the rector of the soon-to-be integrated Gregorian University describes his mission to educate seminarians who are ‘open to growth.’
My recent visit to the Holy Land revealed fear and depression but also the grit and resilience of a people to whom the prophets preached and for whom Jesus wept.
The Gregorian’s American-born rector, Mark Lewis, S.J., describes how three Jesuit academic institutes in Rome will be integrated to better serve a changing church.