Actual Salary Packages of Vatican Cardinals and Pope Released

• Cardinals heading Vatican departments earn monthly salaries of €4,000 to €5,000 while Pope earn $32,000, but recent reforms under Pope Francis, who rejected his own salary, have cut their pay by 10%, removing €500 allowances
• This financial adjustment reflects the Pope's "zero deficit" agenda aimed at improving fiscal discipline and reducing superfluous spending within the Church
• The cuts from 2024, align with broader efforts to promote economic stability in Vatican operations

Cardinals in Rome, who lead various departments of the Vatican, receive an estimated monthly stipend ranging between €4,000 and €5,000 (£3,440 to £4,300) while the Pope earns $32,00, according to Italian media reports.

According to Reuters, this salary is often supplemented by allowances to cover costs such as hiring personal secretaries. However, recent measures have reduced these benefits.

Salary cuts under Pope Francis’ financial reform

Effective from 2024, late Pope Francis, who himself refused to receive salaries, ordered a 10% reduction in these salaries of cardinals, eliminating two allowances worth €500 (£430) per month.

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This decision affects around 20 cardinals heading Vatican departments as part of Francis' ongoing "zero deficit" agenda. The move aligns with broader reforms introduced to cut spending and promote fiscal stability within the Church.

Pope Francis, before his death, urged cardinals worldwide to embrace a spirit of essentiality, promoting prioritisation and avoiding unnecessary expenses.

In the face of the economic impact of reduced tourism during the COVID-19 pandemic, Francis had previously implemented a similar 10% pay cut in March 2021.

He also removed subsidised rents for cardinals and senior Vatican officials earlier in 2023, demonstrating ongoing efforts to improve financial stability.

In the unusual letter to cardinals, Francis emphasised the need to address deficits while safeguarding the Vatican’s economic integrity, asking Church leaders to focus on fiscal sustainability and reform.

Holy See and Vatican budgets operate separately

The Vatican headquarters comprises two distinct entities: the Holy See, an internationally recognised sovereign entity, and Vatican City, a 108-acre city-state surrounded by Rome.

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Each maintains separate budgets, with Vatican City income, including proceeds from the popular Vatican Museums, often used to cover deficits in the Holy See’s finances.

Francis' latest measures before his passing signal his commitment to fostering accountability and ensuring that Church operations align with sustainable financial practices.

Pope Francis’ estimated net worth released

Legit.ng earlier reported about Pope's net worth here. The late Pope Francis, born Jorge Mario Bergoglio, made history in 2013 when he assumed the papacy following Pope Benedict XVI’s resignation due to declining health.

His appointment marked a significant milestone as he became the first Latin American pope, bringing a new era of acceptance and inclusivity to the Catholic Church. From the moment he took office, Pope Francis led efforts to modernise the Church, advocating for compassion, dialogue, and engagement on issues once considered taboo.

His tenure was characterised by humility, reform, and a commitment to serving the marginalised. Despite his high-ranking position, Pope Francis was known for his modest lifestyle.

Source: Legit.ng