The data showed the Vatican bureaucracy had narrowed its deficit to 11 million euros ($12.92m) last year from 75 million euros ($88m) in 2018, even taking into account a 25 million-euro ($29.36m) drop in donations from dioceses and individuals alike.īut more than the earnings statement, the consolidated report provided the first-known publicly released information about the Vatican’s net equity – estimated at 1.4 billion euros ($1.6bn) for the Holy See Curia, or bureaucracy.
The data marked the first time since 2016 that the Vatican has released any information about its finances, despite pledges by Pope Francis from the start of his pontificate in 2013 to be more transparent and accountable with the Holy See’s money. The Vatican released a detailed budget, balance sheet and earnings statement on Thursday as it sought to reassure Catholics it is serious about cleaning up its financial act following a corruption scandal that has exposed shoddy fiscal management.
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