Major Renovations, Economy Put Vatican in the Red

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.

Comments are automatically closed two weeks after an article's initial publication. See our comments policy for more.

Advertisement
Advertisement

Don't miss the best from America

Sign up for our Newsletter to get the Jesuit perspective on news, faith and culture.

The latest from america

Pope Francis answers questions from journalists aboard his flight from Malmo, Sweden, to Rome Nov. 1. (CNS photo/Paul Haring)
Pope Francis confessed that while he has “chutzpah,” “I am also timid.”
Gerard O'ConnellOctober 17, 2017
Callista Gingrich, wife of former House Speaker Newt Gingrich, has been nominated by President Donald Trump to be the new U.S. ambassador to the Holy See. She is pictured as her husband speaks at Peachtree Academy in Covington, Georgia, in this Feb. 29, 2012, file photo. (CNS photo/Erik S. Lesser, EPA)
23 senators voted against Ms. Gingrich’s confirmation, a departure from previous nominations that faced little opposition.
Michael J. O’LoughlinOctober 16, 2017
Changing churches, confessionals and saints through the centuries
Raymond A. SchrothOctober 16, 2017
It is not technology we should fear. It is ourselves.
Simcha FisherOctober 16, 2017