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Vatican deficit disclosed in first public report issued on budget
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Vatican expects budget deficit for 2021
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By Junno Arocho Esteves • Catholic News Service • Posted February 19, 2021
VATICAN CITY (CNS) In the wake of the economic fallout due to the COVID-19 pandemic, the Vatican Secretariat for the Economy said it expects a multimillion-dollar deficit in its budget for 2021.
In a statement released Feb. 19, the Vatican said Pope Francis signed off on the Holy See’s 2021 budget, which was proposed by the secretariat and approved by the Council for the Economy, the Vatican board charged with overseeing the financial operations of all offices and entities.
“With total revenues of 260.4 million euros (US$316 million) and expenses of 310.1 million euros ($376.3 million), the Holy See expects a deficit of 49.7 million euros ($60.3 million) in 2021, heavily impacted by the economic crisis generated by the COVID-19 pandemic,” the secretariat said.