Vatican admits cash troubles as it moves to cover budget deficits

St Peter’s Square in Rome (Phil Noble/PA)

The Vatican warned that it has nearly depleted its financial reserves from past donations to cover budget deficits over recent years, as it urged continued giving from the faithful to keep the Holy See afloat and Pope Francis’ ministry going.

The Vatican published its 2021 budget in its latest effort at greater financial transparency amid a predicted 50 million euro budget deficit this year.