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Updated: 2:23 PM Jul 7, 2007
Vatican Reports Small Budget Surplus
The Vatican is reporting a narrow budget surplus. Posted: 8:00 AM Jul 8, 2007 |
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(July 8, 2007)--The Vatican reports a narrow budget surplus of $3.2 million in 2006, down from its strong financial showing the previous year.
In its annual financial report, the Vatican says it recorded revenues of $310 million against expenses of $306 million.
Many of the expenses are covered by payments from dioceses around the world.
Vatican museums also are a major source of revenue.
But in recent years, Vatican accounts have been battered by labor costs and the costs of the Vatican's expanding worldwide diplomatic missions.
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