Home Christian News Vatican Economy Czar: ‘The Pope’s Mission Is Underfunded’

Vatican Economy Czar: ‘The Pope’s Mission Is Underfunded’

Guerrero explained that every year the Holy See must sell assets amounting to 20–24 million euros to cover the costs of the Curia.

While helping reduce corruption and cut costs, the pope’s reforms have also added a strain on the Vatican’s finances. As an example, he offered Francis’ order that the highest appellate Vatican court, the Roman Rota, which grants annulments, stop charging for access, turning it from “being self-financing to being in deficit.”

Struggling Catholic hospitals and an ailing pension fund also weigh heavily on the church’s finances.

“Catholic health care is itself going through a difficult time in Italy,” Guerrero said. Many Catholic-owned or managed hospitals struggle with debt. While the pediatric hospital Bambino Gesù “is economically healthy,” Guerrero said, the Casa Sollievo della Sofferenza is currently in an “economic crisis.”

Regarding the Vatican pension fund, Guerrero admitted that there is no doubt “we are promising more than we can actually afford.” He added that while there is still time to introduce corrective measures, “we must do it soon.”

This article originally appeared here