Vatican's Financial Turnaround: A Step Forward Under Pope Leo XIV

The Vatican reported a significant profit increase in 2024, highlighting the financial challenges faced by Pope Leo XIV. Despite investment returns, real estate profits remained stagnant due to high maintenance costs. The Holy See continues to struggle with a structural deficit and pension fund shortfall.

The Vatican's financial office announced a profit surge to 62 million euros in 2024, marking a significant improvement from the previous year. This financial result is a positive signal as Pope Leo XIV addresses the persistent economic challenges of the Catholic Church.

The Administration of the Patrimony of the Apostolic See redirected 46 million euros from profits towards operational costs. Despite strong investment gains, real estate revenues flatlined as most properties are undervalued or not income-generating.

As Pope Leo XIV begins his term, he faces the daunting task of managing the Vatican's 50 to 60 million euro deficit and addressing the pension fund shortfall. His strategic focus includes navigating the financial entities within the Vatican for sustainable economic growth.

(With inputs from agencies.)