Vatican Financial Strategy Yields Achievement Amid Crisis

The Vatican's financial management entity, overseeing investments and real estate, reported a noteworthy profit of 62 million euros in 2024. This figure marks an increase of 16 million euros from 2023, offering some positive financial news at the onset of Pope Leo XIV's papacy.

According to the 2024 report from the Administration of the Patrimony of the Apostolic See (APSA), 46 million euros were allocated to the Holy See's operational expenses. Investment returns contributed 10.5 million euros to the profit, while real estate income remained similar to the previous year's figures.

The Vatican has long faced a structural deficit of 50-60 million euros and a significant 1 billion euro pension fund shortfall. With a background in mathematics, Pope Leo is viewed as financially adept, holding discussions with various Vatican financial bodies. The Vatican owns over 5,000 properties, many generating below-market income, posing potential revenue opportunities hindered by maintenance costs.

(With inputs from agencies.)