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Vatican budget hit by rising costs

Vatican Vatican budget hit by rising costsbudget projections are still negatively affected by shaky global financial markets and rising operating costs.

Vatican budget hit by rising costs

February 18, 2011

Despite signs of an economic recovery, the Vatican’s budget projections are still negatively affected by shaky global financial markets and rising operating costs.

A council of cardinals charged with reviewing Vatican finances met Feb. 15-16 to go over the projected budgets of 2011, CNS reports.

The cardinals are given two separate budget reports: the budget of the Holy See, including the Roman Curia, Vatican diplomatic missions around the world, Vatican media outlets and Vatican investments; and the budget of Vatican City State, including the post office and Vatican Museums.

The Vatican statement, released Feb. 17, gave no figures for projected income and expenses, but it offered a general description of the budget plans.

Even though there are “clear signs of recovery,” the overall budget forecast “is still feeling the uncertainties of the global economic system, but also rising operational costs,” especially for the Holy See’s budget, it said.

SOURCE

Despite signs of economic upturn, Vatican budget hit by rising costs (Catholic News Service)
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