Although the Vatican’s latest budget is “the lowest in the recent history of the Holy See,” a sharp decrease in contributions will mean a project €50 million ($60 million) deficit for the coming year, Father Juan Antonio Guerrero Alves, prefect of the Secretariat for the Economy, has acknowledged. In an interview with Vatican News, he said that the shortfall would require using nearly €30 million from the Peter’s Pence collection (from a total of €47 million donated) for operating expenses rather than papal charities.