Vatican Predicts Record ’88 Deficit
The Vatican predicted a record 1988 deficit of $61.8 million for the Holy See on Saturday but said it expects the deficit to be covered by contributions from Catholics worldwide.
The current record deficit of $59.3 million was set in 1987, when the church had predicted a shortfall of $63 million.
A Vatican report issued Saturday said the Vatican is “counting on” covering the 1988 deficit with 1988 contributions to Peter’s Pence by churchgoers, particularly those in the United States.
Peter’s Pence refers to members’ donations to the Pope for his personal use in church administration.
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