DAILY CATHOLIC     MONDAY     June 22, 1998     vol. 9, no. 120

NEWS & VIEWS
from a CATHOLIC perspective

To print out entire text of Today's issue, go to SECTION ONE and SECTION TWO

VATICAN BUDGET SHOWS HEALTHY SURPLUS

          VATICAN (CWNews.com) -- The Vatican budget for the 1997 fiscal year shows a surplus of nearly $11 million-- a pleasant improvement from the previous year's surplus of $260,000.

          Despite a 40 percent increase in family benefits for Vatican employees-- an expression of the Pope's determination to strengthen family life-- the budget for the Holy See was in the black by $10,860,438. The separate budget for the Vatican City administration also showed a positive balance, of $21,408,012. And the Pope's charities, supported by the worldwide Peter's Pence collection, brought in a record $52,456,044.

          Today's happy announcements came from Msgr. Francesco Salerno, the secretary to the Prefecture for Economic Affairs at the Holy See. He credited sound management practices, a favorable exchange rate, and the generosity of individual Catholics for the positive balances.

          Vatican City will invest this year's $21 million surplus in construction projects, including the building of an underground garage and the modernization of the Vatican Museums. These projects are being planned as part of the preparation for the Jubilee Year 2000, which is expected to draw millions of pilgrims to Rome.

          Yesterday the reassuring financial figures were discussed at a meeting of the council of cardinals charged with oversight of Vatican economic affairs. That meeting brought together the Secretary of State, Cardinal Angelo Sodano; the president of the Prefecture for Economic Affairs, Cardinal Sergio Sebastiani; and the other members of the council: Cardinals Joachim Meisner, Jose Freire Falcao, Simon Ignatius Pimenta, Frederic Etsou-Nzabi-Bamungwabi, Camillo Ruini, Henri Schwery, Ricardo Maria Carles Gordo, and Juan Sandoval Iniguez.


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June 22, 1998       volume 9, no. 120
NEWS & VIEWS

DAILY CATHOLIC

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