The Vatican reveals its real estate assets for the first time before the trial in London
the Vatican Saturday published for the first time the annual budget of a major department manages property and investments, days before the start of a trial over a controversial investment in London.
According to last year’s budget, the Holy See’s Heritage Administration (APSA) owns 4,051 properties in Italy, as well as 1,120 properties in London, Paris, Geneva and Lausanne.
One of the London buildings, which the foreign secretary bought in a “dark way” to convert them into luxury apartments and which has caused huge losses, is the center of the trial that will begin Tuesday.
Minister of Economy in VaticanJuan Antonio Guerrero announced, Saturday, that they are making great efforts in terms of transparency regarding their financial conditions, a measure that falls within the framework of the fight against corruption promoted by Pope Francis.
“We come from a culture of secrecy, but we have learned that in economic matters, transparency protects us more than secrecy,” Guerrero said after the budget was released.
In the trial, it will be determined whether the investment in London There was a corrupt management by senior officials in Vatican.
Guerrero defended that the measures implemented in recent years “will make it difficult to repeat”.
According to the published budget, 14% of APSA’s real estate is leased and the money raised goes to the Vatican’s Labor and Charity Funds.
The remaining 86% is used by offices Vatican or serves to house cardinals and the staff of the Holy See.
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