The Vatican City State reported a deficit of $22 million for 2008 as a consequence of the "global economic-financial crisis," RNS reports.
Maybe Obama can offer a stimulus package when he meets the Holy Father on Friday? Or will tomorrow's encyclical address this problem?
The Vatican's annual profit and loss statements showed that the 108-acre sovereign territory, which includes St. Peter's Basilica and the Vatican Museums, fared much worse last year than in 2007, when it reported a profit of $10 million.
A Vatican statement attributed the shortfall to spending on telecommunications, Internet, and photovoltaic panels on the roof of the papal audience hall, as well as conservation and restoration work on the Vatican's art collections.
The statement did not give a breakdown of expenses.
On the bright side, the Holy See, the episcopal jurisdiction of the pope, reported a loss of merely $1.3 million, down from $14 million in 2007.
The news is the latest indication of straitened circumstances at the world headquarters of the Catholic Church. In May, the Vatican announced that it would raise its staff retirement age by two years to help make ends meet.
And Vatican Radio announced that it would take paid commercials for the first time in its 78-year history. Beats hawking indulgences, I guess...
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Is anyone surprised that the Vatican isn't immune to the world's economic situation? Benny and friends aren't exactly living in poverty with rats, bugs and other nasty things running around in their rooms. Living in luxury isn't cheap. Perhaps Benny and friends can economize, or sell some of the treasures, or perhaps relics of some old saint. Could get a few bucks to help out the situtation.
Pagansister you are just ridiculous, true they are not living with rats or other nasty things, but how many other heads of state are? He's the Vicar of Christ have some respect!!!
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