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IPFS News Link • Religon: Pope News

Vatican running out of money due to pedophilia costs

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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 

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


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