The world's smallest country has a big budget problem. The Vatican doesn’t tax its residents or issue bonds. It primarily finances the Catholic Church's central government through donations that have been plunging,

Can Pope Leo XIV solve the Vatican funding crisis? Here’s how the Holy See manages money - The Vatican doesn’t tax its residents or issue bonds, and it's got a big budget problem

The world's smallest sovereign state, Vatican City, is facing a substantial budget crisis, with its central government, the Holy See, struggling to cover operational costs due to declining donations and underperforming financial assets. Pope Leo XIV is now tasked with finding solutions to pull the city-state out of the red.