The World - News from Feb. 26, 1988

The Vatican ran an operating deficit of more than $56.7 million in 1986, according to a financial statement released by the U.S. National Conference of Catholic Bishops. It was the first time such financial information on the Vatican had been made public. The deficit was met by dipping into Peter’s Pence, the annual worldwide collection for the Vatican and the only direct channel of support from the faithful. The statement said Vatican expenses totaled nearly $114 million in 1986, including $58 million for personnel, $11.7 million for publishing, $11 million in expenditures related to investments, $10.36 million for equipment and operating costs of Vatican Radio and $9.7 million for administrative costs.