Vatican City, 30 July, 2024 / 12:15 pm (ACI Africa).
The Vatican’s asset management body, known as the Administration of the Patrimony of the Holy See (APSA), reported a 45.9 million euro profit ($49.6 million) in its 2023 annual report on Tuesday, an increase of 13.6 million euros ($14.7 million) from the previous year.
Approximately 37.9 million euros ($41 million), which accounts for 82.6% of the total profit generated, will go toward supporting the work and activities of the Roman Curia. The remaining 7.9 million euros ($8.5 million) will be reinvested into APSA to further increase its assets.
“We have to work constantly to increase the income stream to cover expenses, but without affecting the Holy See’s assets or requiring the sale of institutional properties,” stated APSA president Archbishop Giordano Piccinotti, Vatican News reported.
Moveable assets and property are two major areas managed by APSA.
The Vatican’s buying and selling of “moveable assets” — including international securities, fixed-income, and other low-risk assets — are invested in projects that operate in accordance with the social doctrine of the Catholic Church.