Vatican posts $5.2 million loss
in 2009 but donations were up
by Nicole Winfield
Vatican City, July 10 (AP) -- The Vatican said Saturday it had posted its third straight financial loss, registering a euro4.1 million ($5.2 million) deficit for 2009.
The financial report released Saturday by the Holy See's press office listed revenues of euro 250.18 million against expenses of euro 254.28 million. Most of the expenses went to support Pope Benedict XVI's activities and the Holy See's offices, especially Vatican Radio, the report said.
In 2008, the Vatican was euro 900,000 in the red; a year earlier it posted a euro 9.06 million deficit.
The report said the separate administration of the Vatican City state was particularly hit by the economic crisis as well as by high costs to improve the Vatican's telecommunications system, restore its cultural treasures, and ensure security.
However cost-cutting allowed the tiny state to record a loss of only euro 7.81 million, less than half the euro 15.3 million it lost in 2008.
The Vatican said annual donations from churches worldwide, the so-called Peter's Pence, were up in 2009, with Catholics donating $82.52 million last year. In 2008, the faithful gave $75.8 million and $79.8 million in 2007. Leading donors were from the U.S., Italy and France.
The Pope uses the fund to help churches in poor countries and other charitable causes. In addition, the Vatican's bank, the Institute for Religious Works IOR), gave the Pope an additional euro 50 million in 2009 for his charities.
The Vatican has published the annual report since 1981, when Pope John Paul II ordered financial disclosure as part of his efforts to debunk the idea that the Vatican is rich.
Up until two years ago, the report was released on the same day a senior Vatican cardinal held a news conference to explain the financial picture.
Asked why such briefings are no longer scheduled, a Vatican official said they had been stopped because journalists asked "uncomfortable" questions. The official spoke on condition of anonymity because he was not authorized to discuss the issue with the media. [And here I was thinking naively that Winfield for once was not putting in a quick jab!]
[Modificato da TERESA BENEDETTA 10/07/2010 19:17]