PRESS TV
July 5, 2009
http://www.presstv.ir/detail.aspx?id=99801§ionid=351020606
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| The Saint Peter's Square at the Vatican is reflected in a pilgrim's glasses, July 1, 2009. |
The Vatican says the global economic crisis has taken its toll on its budget, which suffered in 2008 due to lack of donations and troubled finances.
The Holy See press office posted a budget deficit of around ˆ0.9 million ($1.27 million) for 2008, a slightly improved figure compared with a loss of ˆ9.06 million ($12.7 million) in 2007, the Associated Press reported.
The financial report released Saturday listed ˆ254.8 million in expenses spent in supporting the activities of Pope Benedict XVI and the Holy See's offices as well as running its costly media, including Vatican Radio, the report said.
This is while ˆ253.9 million had been secured as revenue.
Meanwhile, the separate administration of the Vatican City state has to tide over a ˆ15.3 million deficit following heavy costs paid amid efforts to restore the Vatican's cultural treasures and ensuring security.
The Vatican said annual donations from churches worldwide, the so-called Peter's Pence, showed a decrease of four million dollars, down to almost $75.8 million from $79.8 million in 2007.
Leading donors were faithful in the United States, Italy and Germany and are mostly spent in assisting churches in poor countries and other charitable causes.
In 1981, Pope John Paul II, the first non-Italian pope since 1523, ordered financial disclosure as part of his efforts to debunk the idea that the Vatican is rich.
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