The pandemic complicates the accounts of the Vatican and multiplies its deficit by six

pandemic complicates the accounts of the Vatican and multiplies its deficit by six

The Holy See increased its deficit sixfold in 2020 to 66 million euros, from 11 million in 2019, due to the coronavirus pandemic, although the figure was within schedule, according to the Vatican Secretariat for the Economy.

The Holy See has made public its accounts for 2020 and, for the first time, the budget of the Administration of the Patrimony of the Apostolic See (APSA).

The prefect of the Vatican Secretariat of Economy, Juan Antonio Guerrero, explained in an interview with the Vatican News portal that this year they are being published for the first time, but that does not mean that “APSA has not drawn up its own accounts in the past. and has not submitted them for approval.”

“The control bodies control. Making it public is undoubtedly a step forward in the line of transparency,” he stressed.

The Holy See had an income of 248 million euros and an expense of 315 million euros.

Its net worth amounts to around 1,379 million euros and, in terms of cash flows, Roman offices and nunciatures account for 36% of the total budget, while 14% is represented by the State of Vatican City, the IOR (Vatican bank) 18%, other foundations and funds 24%, the Obolo de San Pedro is 5% and other funds related to the Secretary of State, 3%.

“The sources of income are already known: 58% (68% in 2019) generated internally (income, investments, visitors and services rendered); 23% (18% in 2019) donations external sources (from dioceses or other institutions), and 19% (14% in 2019), comes from related entities (such as IOR or Government),” said Guerrero.

The Holy See explained that its ordinary deficit was 14.4 million euros lower in 2020 compared to 2019, since last year it was 64.8 million euros compared to 79.2 million euros in 2019.

The return on investments was reduced in 2020 by 51.8 million euros compared to year -on- year and the extraordinary result was also 17.8 million euros lower.

The Vatican will try ten people for crimes related to real estate investments of the Secretary of State in London, including Cardinal Angelo Becciu, who presented his resignation to the pope last year as prefect of the Congregation for the Causes of Saints after being splattered in an investigation into the sale of a building in London, on Sloane Avenue, and the management of the St. Peter’s Mite, the fund that collects donations from the faithful for the pontiff’s charitable works.

Cardinal Becciu and the other nine people, including lay and religious workers from the Vatican and figures of international finance, in addition to four companies, will appear next July 27 at the first hearing of the trial accused of financial crimes such as embezzlement, money laundering. of money, fraud, extortion and abuse of power.