2012-07-05 17:04:47

Vatican budget for 2011


(July 05, 2012) The budget of the Holy See for 2011 has reported a deficit of nearly €15 million, a shortfall that was offset by a surplus of over €21 million in the budget of Vatican City for the same period. The Vatican’s budget deals separately with that of the Holy See, which includes offices of the Roman Curia, the Vatican diplomatic missions around the world, Vatican media outlets and Vatican investments; and that of Vatican City State, which includes the Vatican Museums and other entities. A summary report, following a July 3-4 meeting of the Council of Cardinals for the Study of the Organizational and Economic Problems of the Holy See, said the shortfall in the Holy See’s budget was € 14.8 million. This was due to the salaries of its 2,832 employees and the maintenance cost the communications media, a situation which was compounded by poor returns from Holy See’s investments due to the global economic crisis. On the other hand, the budget of Vatican City, which employs 1,887 people, registered a surplus of € 21.8 million, particularly buoyed up by revenue from the Vatican Museums, which rose from €82.4 million in 2010 to €91.3 million from more than 5 million visitors in 2011. Meanwhile, “Peter's Pence”, which is the contribution of faithful to the Pope’s charity, rose from $67.7 million in 2010 to $ 69.7 million in 2011. The Vatican bank, officially called the Institute for Works of Religion, contributed €49 million to the Pope’s apostolic and charitable ministry. There were also substantial increases in contributions from dioceses and religious congregations and institutes around the world in 2011.








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