VATICAN CITY— 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. The gap is a measure of how the pope has fallen short of his mandate when elected six years ago to overhaul the Vatican’s management and finances. The Vatican also remains without a finance chief more than two years after the last one, Cardinal George Pell, left to face sex-abuse charges in Australia.
If sex scandals and denials of sex scandals [2], [3] are not enough to ruin the Vatican, its deficit could.
[1] https://spiritdaily.org/blog/news/pope-orders-vatican-to-shrink-budget-deficit
[2] See article entitled Theodore McCarrick Still Won't Confess at: https://slate.com/human-interest/2019/09/theodore-mccarrick-archbishop-interview-kansas-sexual-abuse.html
[3] See article entitled Bishop Malone: “This could be the end for me as bishop . . . It could force me to resign” at https://www.wkbw.com/news/i-team/the-malone-recordings/bishop-malone-this-could-be-the-end-for-me-as-bishop-it-could-force-me-to-resign?fbclid=IwAR0-LTIuAp2E_eJcPrP2foQxzBS3vrR_MbsElYq7_jtoDRseU0QwSE_RmGg
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