Vatican running deficit amid economic crisis

Sunday, July 5, 2009 The Associated Press Pope Benedict XVI delivers his blessing at the end of Saturday's audience for participants of the European Meeting on Pastoral Vocation at the Vatican. (L'Osservatore Romano) [Click to enlarge] VATICAN CITY -- The Vatican said Saturday it ran a deficit in 2008 as its finances and donations from across the world were hit by the global economic crisis. The Vatican posted a budget deficit for a second straight year, though the figures improved strongly from 2007. The Holy See's 2008 deficit was around 0.9 million euros ($1.28 million), compared with a loss of 9.06 million euros a year earlier. The financial report released Saturday by the Holy See's press office listed revenue of 253.9 million euros and expenses for 254.8 million euros. Most of expenses went to support the activities of... [read full story]                    

powered by