VATICAN CITY
Vatican Insider
The Holy See financial statements for 2011 have been published. They show a deficit of almost fifteen million Euro
Giacomo Galeazzi
Vatican City
In times of crisis, admission tickets to museums and offerings to the Pope become the Vatican’s financial pillars. The Holy See’s consolidated financial statements for 2011 close with a deficit of 14,890,034 Euro. Not all Vatican administrations however have published their financial statements; the accounts are therefore only partial.
The Governorate and the Peter’s Pence Collection have faired well but the Holy See is in the red. The Holy See has promised “contained spending without cutting back on jobs.” The cardinals of the Council for the examination of the Holy See’s organisational and economic problems gathered yesterday and Tuesday in the Vatican for a meeting chaired by the Secretary of State Tarcisio Bertone. Participants gave “numerous” speeches and “made clear their appreciation at the completeness and transparency of the information they had been given,” while “recognition was expressed for the commitment to the ongoing improvement of the administration of the goods and resources of the Holy See.”
The Vatican Press Office reported that “a call was made for prudence and limiting costs, though while maintaining jobs.” “The result – the Council of cardinals informed – was affected by the negative trend of global financial markets, which made it impossible to achieve the goals laid down in the budget.”
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