Vatican beats deficit projections, gives uncertain outlook

ROME (AP) — The Vatican recorded a 3 million euro deficit last year, far less than the 33 million euros projected. But the Holy See said Friday that financial uncertainties lie ahead, including from an underfunded pension system. The Vatican released its consolidated financial statement for 2021, part of Pope Francis’ push to improve transparency and to bring order to the Holy See’s murky finances with international budgeting and accounting standards. The annual financial statement was written using different parameters than previous years. The Vatican’s economy minister says they increase the number of entities covered from 60 to 92, including foundations, hospitals and other Holy See holdings, “to better reflect the economic reality of the Holy See.”