WSJ News Exclusive | Pope Orders Vatican Officials to Shrink Ballooning Budget Deficit

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WSJ News Exclusive | Pope Orders Vatican Officials to Shrink Ballooning Budget Deficit
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Pope Francis ordered top Vatican officials to close a widening budget deficit at the Holy See

VATICAN CITY—Pope Francis ordered Vatican officials to close a widening budget deficit at the Holy See and stop poorly managed spending and investments from undermining the operations of the Catholic Church’s global headquarters.

The Holy See’s deficit doubled in 2018 to roughly €70 million on a budget of about €300 million, reflecting persistent inefficiencies and hits to investment income, according to senior Vatican officials.

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