No Faith, No Money: Vatican Finances Are Facing “Very Uncertain” Future
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• The 2021 budget deficit, including 92 entities, amounts only to €3M [expected: 33M] but Vatican’s assets erode by 20-25 million each year to pay for the Curia.
• The Governorate (museums, gendarmerie, real estate inside the Vatican) and Ior (Vatican Bank) are not included in the budget.
• There is an operating ordinary deficit of €62M which only the good 2021 financial results mitigated leaving a €3M deficit.
• Revenues continue to fall.
• The Tribunal of the Rota went from being self-financing to being in deficit once Francis decided to make its [dysfunctional] services free.
• The Vatican’s Bambino Gesù Hospital has a larger budget than the Roman Curia but is sane while the Vatican’s Casa Sollievo della Sofferenza in San Giovanni Rotondo is in deep financial troubles.
• The Vatican’s Pension Fund is not being sufficiently endowing to meet its future obligations, “We are promising more than we can afford” but “we are still in time to introduce corrective, non-traumatic measures.”
• “For the future we are facing a very uncertain time. We do not have many variables on which to operate to deal with the crisis.”
• "We cannot say that the time for sacrifices is over, 2022 will be a particularly difficult year and so will 2023."
• "Now we must deal with the 2023 budget which does not allow us to be very cheerful."
Picture: © █ Slices of Light
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