Vatican Reveals a Surplus with Larger Donations Recovering from their 51.2 Million Euro Deficit

Holy See (Vatican) Achieves €1.6 Million Surplus in 2024

The Secretariat for the Economy has released the Holy See's 2024 Consolidated Financial Statements, showing a surplus of 1.6 million euro. This outcome marks a significant recovery from the 51.2 million euro deficit recorded in the preceding year. (Image Vatican Media Nov. 22)

 Financial Turnaround and Deficit Reduction

The financial report, published on Wednesday, indicates a clear improvement and a positive direction, though full financial sustainability remains a long-term goal.

The overall positive shift stems from a substantial reduction of the operating deficit, which dropped by almost 50%, moving from 83 million to 44 million euro.

  • This was facilitated by an increase of 79 million euro in revenues, primarily generated by donations and hospital management.

  • Efforts to control expenses also contributed, helping to partially offset the impact of inflation and rising personnel costs.

 Investment Performance

Financial management performance was particularly strong, generating positive results totaling 46 million euro. This figure exceeds 2023 levels and was instrumental in covering the operating deficit. The performance was mainly driven by the realization of capital gains, achieved with the assistance of the Investment Committee.

"Caballero: ‘Positive signs for Holy See’s finances, now realism and prudence’"

Detailed Financial Analysis

Excluding hospital entities, the Holy See concluded the year with a surplus of 18.7 million euro.

The Secretariat for the Economy cautioned that interpreting this figure requires prudence, as the improvement is largely attributed to an increase in donations and a one-off accounting impact related to the sale of long-standing investments. Consequently, this progress will require confirmation in the upcoming years.

 Apostolic Mission and Funds Allocation

An analysis of the expenditure items confirms consistency between the Apostolic Mission and its economic execution. The various Curial Dicasteries perform services for the Church globally, spanning from supporting local Churches to promoting peace, communication, and managing the Vatican heritage.

The report details the allocation of the 393.29 million euro designated for the Apostolic Mission and Pontifical Funds (excluding hospitals). The vast majority, 83%, is concentrated across five priority sectors:

  1. Support for local Churches in difficulty and evangelization contexts: 37% of the total (146.40 million euro), representing the main expenditure item.

  2. Worship and evangelization: 14%.

  3. Communication of the message: 12%.

  4. Presence in the world through Apostolic Nunciatures: 10%.

  5. Service of charity: 10%.

The remaining 17% is dedicated to other functions, including the Organization of Ecclesial Life, Historic Assets, and Academic Institutions.

Edited from Source: https://www.vaticannews.va/en/vatican-city/news/2025-11/holy-see-secretariat-economy-2024-financial-report.html

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