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The Independent UK
The Independent UK
National
Nicole Winfield

Can Pope Leo XIV solve the Vatican funding crisis? Here’s how the Holy See manages money

Leo XIV Vatican United States Bonds Holy See
The Vatican doesn’t tax its residents or issue bonds, and it's got a very big budget problem - (Copyright 2025 The Associated Press. All rights reserved)

Vatican City, the world's smallest country, is facing a significant budget deficit.

The city-state primarily relies on donations, ticket sales from the Vatican Museums, investment income, and its real estate holdings to finance the Catholic Church's central government.

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