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Rome Reports

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Vatican reports financial losses for third straight year

The Holy See suffered financial losses of $5.2 million for 2009. Its operations include the pope?s activities and various media outlets: Vatican Radio, L?Osservatore Romano and Vatican Television Center. All are funded by donations from diocese, religious congregations and the faithful.

The Vatican City State Governorate reported a deficit of $9.9 million last year. It operates the physical space of Vatican City, including the Vatican Museums, and employs maintenance workers and the police force.

Last year?s financial losses did not take into account Peter?s Pence, which is used to support poorer Churches. Peter?s Pence collected $83 million in 2009, up from $76 million in 2008.

The announcement was made in a public statement from the Council of Cardinals for the Study of Organizational and Economic Matters of the Holy See, led by Cardinal Tarcisio Bertone.

RC

JM

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