Vatican Estimates 1993 Deficit at $91 Million
The Vatican said Saturday that it expects its deficit to rise to $91.7 million in 1993, largely because of the inclusion of pension fund spending for the first time.
Vatican spending was estimated at $177.8 million and revenues at $86.1 million, the Vatican’s financial chief, American Cardinal Edmund Szoka, said in a report to a committee overseeing church finances.
This year’s projected deficit was $86 million, and the latest figures continue a long streak of red ink. The Vatican said it would try to make up the difference with extra revenue from dioceses.
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