Pope Francis has called on his more than 230 cardinals to be more economical with their finances. In a letter to the entire College of Cardinals, the 87-year-old Pontiff urged them to stick to the agreed goal of a balanced budget for the Catholic Church with its approximately 1.4 billion believers worldwide. It states: “Everyone is now required to make further efforts so that a ‘zero deficit’ is not just a theoretical goal, but an actually achievable one.”

Last year, the Vatican recorded a deficit of more than 80 million euros. Revenues of 1.152 billion were offset by expenditures of 1.236 billion euros. The Papal States do not collect taxes. Revenues come from donations, such as the so-called Peter’s Pence, as well as from real estate holdings and the operation of the much-visited Vatican Museums.

The countries from which most donations come include Germany, the USA and Italy. However, the Catholic Church is struggling with ageing societies and people leaving the church, particularly in Europe and North America.

Church can learn from good families

Francis urged us to “avoid superfluities and choose our priorities carefully.” The Church could learn from good families. “Just as in families, those who are in a good economic situation come to the aid of the most needy members, institutions should contribute with a surplus to cover the general deficit.”

The College of Cardinals includes all cardinals who work in the Curia in Rome or who lead an archdiocese or diocese, or who previously held such positions. Its most important task is to elect a pope. However, only cardinals who are under 80 years of age are allowed to participate.