The Vatican announced that it has published the financial statements of the Administration of the Patrimony of the Apostolic See (APSA), highlighting growth in profitability and larger contributions to the Roman Curia and the mission of the Church.
According to Crux: The Vatican has been running a 50 million to 60 million euro structural deficit for years and is facing a 1 billion euro pension fund shortfall, a critical scenario that represents one of the greatest challenges facing Pope Leo XIV at the start of his pontificate.
An extraordinary profit of €62.2 million (more than €16 million higher than in 2023) and an extraordinary contribution of €46.1 million (more than €8 million higher than the €37.93 million in 2023) to cover the needs of the Holy See and the deficit of the Roman Curia: these are the figures that stand out in the 2024 budget of APSA, the Administration of the Patrimony of the Apostolic See, published on Friday. APSA President Archbishop Giordano Piccinotti told Vatican Media it is “one of the best budgets in recent years”.
The report released today is the fifth budget (after the publication of the first for 2020) made public by the body established in 1967 by Paul VI to manage the movable and immovable property of the Holy See.
Thanks to its legal autonomy, the Administration provides for the sustenance of the Holy See. During the difficult period of Covid-19, APSA effectively became “proactive” and “propositional” in the way it administers the assets entrusted to it.
The “change” is even more noticeable in Friday’s document, which highlights the growth in profitability, not as an end in itself but as a means of ensuring a greater capacity to contribute to the needs of the Holy See—and, therefore, to the mission of the Church and the Pope.
“APSA is doing its duty,” Piccinotti emphasized. “We are going to provide significant coverage of the Curia's financial needs.”
The Curia’s financial needs, amounting to 170.4 million, refer to the expenses incurred by APSA for the Holy See, that is, the sum of salaries and the purchase of goods and services. With a fixed contribution of 30 million euros and a variable contribution (50% of residual profit) of 16.087 million euros, the total APSA contributions to the Curia amount to 46.087 million euros, which Archbishop Piccinotti describes as “an extraordinary profit but also an extraordinary contribution”.
An extraordinary profit of €62.2 million (more than €16 million higher than in 2023) and an extraordinary contribution of €46.1 million (more than €8 million higher than the €37.93 million in 2023) to cover the needs of the Holy See and the deficit of the Roman Curia: these are the figures that stand out in the 2024 budget of APSA, the Administration of the Patrimony of the Apostolic See, published on Friday. APSA President Archbishop Giordano Piccinotti told Vatican Media it is “one of the best budgets in recent years”.
The report released today is the fifth budget (after the publication of the first for 2020) made public by the body established in 1967 by Paul VI to manage the movable and immovable property of the Holy See.
Thanks to its legal autonomy, the Administration provides for the sustenance of the Holy See. During the difficult period of Covid-19, APSA effectively became “proactive” and “propositional” in the way it administers the assets entrusted to it.
The “change” is even more noticeable in Friday’s document, which highlights the growth in profitability, not as an end in itself but as a means of ensuring a greater capacity to contribute to the needs of the Holy See—and, therefore, to the mission of the Church and the Pope.
“APSA is doing its duty,” Piccinotti emphasized. “We are going to provide significant coverage of the Curia's financial needs.”
The Curia’s financial needs, amounting to 170.4 million, refer to the expenses incurred by APSA for the Holy See, that is, the sum of salaries and the purchase of goods and services. With a fixed contribution of 30 million euros and a variable contribution (50% of residual profit) of 16.087 million euros, the total APSA contributions to the Curia amount to 46.087 million euros, which Archbishop Piccinotti describes as “an extraordinary profit but also an extraordinary contribution”.
Sources: https://www.vaticannews.va/en/vatican-city/news/2025-07/apsa-budget-shows-increased-profits-support-for-holy-see.html and https://cruxnow.com/ap/2025/07/vatican-reports-good-profit-on-investments-and-real-estate-as-the-pope-tackles-a-financial-crisis
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