The Vatican admits it has nearly depleted its financial reserves and pleads for more donations from the faithful.
The Vatican published its 2021 budget in its latest effort at greater transparency. It seeks to reassure donors that money is being well spent after mismanagement.
However, the Vatican warned it has nearly depleted its reserves from donations. It is now urging the faithful to continue giving to cover its budget deficit.
Francis’ economy minister, Reverend Juan Antonio Guerrero Alves, said the pandemic reduced donations as well as revenue from shuttered museums. He said this would contribute to a projected 30 percent reduction in revenue.
The reduction will be 213 million euros in 2021, from 307 million euros in 2019.