Vatican has nearly depleted its financial reserves, urges more giving

The Vatican warned that it has nearly depleted its financial reserves from past donations to cover budget deficits over recent years. It urged continued giving from the faithful to keep the Holy See afloat and Pope Francis’ ministry going.

The Vatican published its 2021 budget in its latest effort at greater financial transparency amid a predicted 50 million euro budget deficit this year.

The aim is to reassure donors that their money is being well spent, following years of mismanagement that is currently the focus of a Vatican corruption investigation.

Francis’ economy minister, the Reverend Juan Antonio Guerrero Alves, said the coronavirus pandemic reduced donations as well as revenue from the shuttered Vatican Museums.

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