Pope Francis Urges Vatican Leaders To Fix Ballooning Budget Deficit

The Vatican doesn’t need a miracle just yet, but it may soon if it can not get its financial house in order.

Pope Francis ordered officials to close a ballooning budget deficit in Vatican City and to put an end to mismanaged spending in the Catholic Church’s global headquarters.

“I ask you to study all measures deemed necessary to safeguard the economic future of the Holy See and to ensure that they are put into effect as soon as possible,” the Pontiff wrote in a letter to Cardinal Reinhard Marx, head of the Vatican’s financial oversight council.

“Inform the respective heads about the gravity of the situation, the Pope urged.

Vatican City’s deficit stood at 70 million euros, or $76 million, in 2018, doubling since 2017.

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