Vatican Budget Looking Better

Still Reflects "Uncertainties" of Global Economies

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VATICAN CITY, FEB. 17, 2011 ( An estimation of the 2011 Vatican balance sheet shows "clear signs of recovery," even though "the uncertainties of the global economic system" are also reflected.

A Vatican communiqué today reported the results of a Tuesday-Wednesday meeting of the Council of Cardinals for the Study of Organizational and Economic Questions of the Apostolic See. Secretary of State Cardinal Tarcisio Bertone presided over the meetings.

The council examines the financial situation of both the Holy See and Vatican City State. Cardinal Velasio De Paolis, president of the Prefecture for the Economic Affairs of the Holy See, presented the estimated balance sheet for both entities.

"The total picture that emerges from the above-mentioned estimated balance sheets, though in the presence of clear signs of recovery, still reflects the uncertainties of the global economic system, but also of the growing costs of management," the communiqué noted. "This seems evident above all for the Holy See, whose irreplaceable source of financial support is constituted by the free donations of the faithful."

The council affirmed its gratitude for the support of the faithful in the "universal ministry of the Holy Father" and they exhorted believers "to persevere in this good work."

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