The deceased Pope Franciscus left his successor Leo XIV a financial gap of approximately two billion euros. This goes back to a report from the newspaper “Corriere della Sera”. Accordingly, the difficult financial situation was an important topic in the cardinal meetings at the beginning of May.
Pope Francis had repeatedly pointed out the Vatican’s deficit last year. In September 2024 he called the cardinals in a letter to more economy and new financing ideas. On 26 February 2025 he still ordered the basis of a new committee of the Gemelli clinic, which is intended to ensure fundraising for the Vatican.
The Vatican has not published a decent budget for more than two years. In contrast to other states, he has no longer had access to the international capital market since the 20th century to finance himself through government bonds.
Bank does not generate enough
In recent years, the Vatican Bank IOR has always paid a low double digital million amount to the holy stools as a dividend. However, the Institute does not generate sufficiently to cover the high salary costs and the pension funds for the nearly 5,000 employees of the Vatican. Moreover, it does not provide loans.
Under the popes of John Paul II and Benedict XVI. Catholic dioceses and lay clubs such as the “Knights of Columbus” were still one of the most important financiers. The US contributions fell considerably under Francis.
Source: Krone
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