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Rome Reports

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Vatican presents yearly budget, expresses concern over falling donations

The Holy See doesn't earn any revenue through taxes or trade, and in turn its income is limited to investments and donations.

Currently, it is concerned about its financial state after experiencing a 15% drop in donations last year. 

In 2020, the Vatican received 49 million dollars in special donations for the pope, known as Peter's Pence, and in 2021, it received less than 41 million dollars. 

The report frames the current challenges facing the Vatican Secretariat for the Economy. 

Showing what it does with donated funds, strengthening controls over spending in the Holy See, and improving efficiency and transparency. 

The Vatican also presented its budget for 2022, which foresees 825 million dollars in revenues, and 887.5 million dollars in expenses. 

The largest expenses listed are for 53 million dollars for its official media, which it uses to promote its voice in public opinion; 46 million dollars to support its nunciatures and diplomatic offices; and 58.7 million dollars for Catholic communities in need. 

The Vatican Curia, however, is tightening its belt, spending 322 million dollars, compared to 327 million last year.

Another surprise is that when presenting the balance sheet, the Vatican announced the sale of the building in London behind the corruption case on the use of funds reserved for the Secretariat of State. A good way for the Vatican to turn a new leaf.