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13h ago

Pope Leo XIV Launches American-Style Drive to Close €50–60 Million Vatican Deficit

Digital fundraising plus tighter oversight aim to rebuild trust in Peter’s Pence against a backdrop of a €1 billion Vatican pension gap.

Pope Leo XIV celebrates a Mass in St. Peter's Basilica at the Vatican, where he will bless the pallia for the new metropolitan archbishops, Sunday, June 29, 2025. (AP Photo/Andrew Medichini)
Pope Leo XIV look at a pallium, he blessed for the new metropolitan archbishops during a Mass in St. Peter's Basilica at the Vatican, Sunday, June 29, 2025. (AP Photo/Andrew Medichini)
Pope Leo XIV celebrates a Mass in St. Peter's Basilica at the Vatican, where he will bless the pallia for the new metropolitan archbishops, Sunday, June 29, 2025. (AP Photo/Andrew Medichini)
Pope Leo XIV arrives in St. Peter's Basilica at the Vatican to celebrate a Mass where he will bless the pallia for the new metropolitan archbishops, Sunday, June 29, 2025. (AP Photo/Andrew Medichini)

Overview

  • The June 29 feast-day appeal rolled out promotional videos, posters, QR codes and online payment options including credit cards and PayPal to solicit Peter’s Pence donations.
  • The Vatican’s structural deficit for Peter’s Pence is estimated at €50–60 million after 2024 expenses of €75.4 million outpaced revenues.
  • Contributions to Peter’s Pence rose from €43.5 million in 2022 to €48.4 million in 2023 and €54.3 million last year despite ongoing budget shortfalls.
  • A separate €1 billion pension-fund gap, which Pope Francis warned would become unsustainable, remains a major financial challenge for the Holy See.
  • Vatican officials stress that new financial controls and Leo’s background as a U.S. math major will reassure donors, particularly those in the United States who provide about a quarter of Peter’s Pence.