Vatican Budget Black Hole Swallows Peter’s Pence

Peter’s Pence, the annual collection to support the work of the Holy Father, reported an uptick in donations for 2023, but allocated nearly 90% of revenue to Vatican operating expenses.

And although voluntary donations climbed after 2022, total revenue to Peter’s Pence in 2023 nearly halved, after the fund disposed of millions of euros in real estate assets to help cover the operations of the Roman curia the previous year.

While climbing Peter’s Pence donations are getting headlines, the more important story told by the report is an ongoing budget black hole at the center of the Roman curia, with the Vatican’s need for cash absorbing not only donations to Peter’s Pence, but triggering a sale of the fund’s assets as well.

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