Pope Orders Vatican Officials to Shrink Ballooning Budget Deficit

By Francis X. Rocca

WSJ—Pope Francis struggles with his mission to fix finances at the Holy See. Pope Francis ordered Vatican officials to close a widening budget deficit at the Holy See and stop poorly managed spending and investments from undermining the operations of the Catholic Church’s global headquarters.

The Holy See’s deficit doubled in 2018 to roughly €70 million ($76.7 million) on a budget of about €300 million, reflecting persistent inefficiencies and hits to investment income, according to senior Vatican officials… Read more>>

Leave a Reply