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

Leo paid a visit to the Borgo Laudato Si, an educational sustainability project that grew out of Francis’ 2015 environmental encyclical “Praised Be,” the Vatican said. The center is located in the gardens of the Vatican’s Castel Gandolfo property on Lake Alban in the hills south of Rome.