Vatican posts surplus but donations drop

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Associated Press

Posted on July 4, 2013 at 6:00 AM

Updated Thursday, Jul 4 at 6:04 AM

VATICAN CITY (AP) — The Vatican has posted a 2.2 million euro ($2.85 million) budget surplus for 2012, an improvement from the previous year and some good news as it struggles to cope with a scandal involving its embattled bank.

In its annual financial statement Thursday, the Holy See said better management had helped it recover from one of its worst deficits a year earlier, when it booked a 14.9 million euro shortfall.

A 12 percent drop in donations and 5 million euros in new property taxes in 2012 prevented an even better result. Most of its expenses were for its 2,823 staff.

The Vatican City State, which runs the profit-making Vatican Museums, post office and supermarket, has a separate budget. Its profits were 23.08 million euros, up from 21.8 million euros in 2011.

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