- May 15, 2021
Revenue shortfalls and a current budget deficit require increased efficiency, transparency and creativity while working to continue to fully carry out the mission of the universal church, said the head of the Vatican’s economic office.
For 2020, the Vatican ran a deficit of $60 million (the data is reported in Euro, so that’s 49.7 million Euro). The total income for the year was $315 million and expenses came to $375 million, hence the deficit.
The Vatican’s financial situation must be “a glass house” that displays transparency and honesty, letting Catholics know where its revenues come from and go, said the head of the Secretariat for the Economy.
There is a lot to like in the two-year budget worked out in Congress and signed by President Donald Trump, according to faith-based institutions that are members of the Circle of Protection.
The $444 million cut from Alaska’s $8.3-billion state operating budget that took effect July 1 is having “a direct negative impact on the most poor and vulnerable in our state,” said Alaska’s Catholic bishops.
The fairness provision directs FEMA to make disaster relief assistance available to houses of worship and was part of the Bipartisan Budget Act passed by Congress.
Catholic aid groups have expressed concerns over President Donald Trump’s budget request, which while it grants several pro-life measures takes funds away from other important sectors such as international aid, the State Department and several welfare programs.
Christian commentators have been arguing on social media in recent days on whether the sharp cuts in assistance to the poor proposed in President Trump’s budget would outrage Jesus or if the translation of a Bible passage suggests the opposite.