Click here to advertise on CatholicCulture.org

Vatican finances show deficit for 2008

Catholic World News - July 06, 2009

The Vatican's financial accounts for 2008 show a deficit of €911,514 (about $1.27 million) for the operations of the Holy See, and a €15 million ($20.8 million) deficit for the Vatican city-state. For the Holy See, expenses of €255,953,869 outstripped revenues of €254,865,383.

Archbishop Velasio De Paolis, the president of the Prefecture for the Economic Affairs, presented a full economic report to a panel of cardinals at meetings in Rome on July 1-3. The report shows that the worldwide Peter's Pence collection drew in €54,387,714 ($75.72 million) during the year 2008.

There was a record number of donations to the Peter's Pence collection, but the worldwide economic slump pressed down the total value of those gifts.

Additional sources for this story
Some links will take you to other sites, in a new window.

An appeal from our founder, Dr. Jeffrey Mirus:

Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach five million Truth-seeking readers worldwide this year. Thank you!

Progress toward our April expenses ($20,025 to go):
$35,000.00 $14,975.48
57% 43%
Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!

There are no comments yet for this item.

Subscribe for free
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

Smaller Church, Bigger Faith, 3: Ecclesiastical Discipline April 17
The Holy Spirit and Evangelization: A Primer April 16
Journey to the Sun: A Strange Biography of Junípero Serra April 16
Russia's demographic recovery + US demographic decline = danger April 16
James Carroll strikes (at the Church) again April 16

Top Catholic News

Most Important Stories of the Last 30 Days