Vatican Reports Significant Profit Boost Amid Financial Challenges

The Vatican announced a 62.2-million-euro profit from its financial and real estate holdings in 2024, marking a 35.5% increase. Despite boosting profits, the Vatican reassessed its holdings' value down to 2.6 billion euros. Pope Leo aims to address the budget shortfall and pension fund liabilities.

The Vatican, on Monday, unveiled a 62.2-million-euro profit from its financial and real estate activities in 2024, an impressive 35.5% surge from the previous year.

This boost aids Pope Leo's initiatives to mitigate the ongoing budget deficit while balancing the Vatican's fiscal responsibilities.

The reevaluation of its holdings, now valued at 2.6 billion euros, reflects updated real estate assessments, underpinning the Vatican's strategy of diversifying investments to minimize risk.

(With inputs from agencies.)