The Vatican has faced its third financial loss in a row with the loss of 4.1 million euros as deficit. It has seen expenses of 254.3 million euros against income of 250.2 million euros.

While the yearly donations from the churches across the world were climbed up by around 9% and reached at 82.52 million dollars. This donation money is known as 'Peter's Pence'.

The Vatican had used a lot of money to improve its telecommunications and at the same time it was focused on ensuring security and restoring its cultural treasures.

Adding to that most of the spending of Vatican includes the activities of the Pope Benedict XVI and other services like Vatican Radio. The Vatican Radio broadcasts its programs in 40 different languages in five continents.

The Vatican started to publish its yearly financial reports from the year 198. During 1981, Pope John Paul II was on power and he had stared publishing the annual financial report.

Before the report for this year Vatican was not so impressive. It had lost 900,000 euros in 2008 and also saw a 9.1 million euros deficit a year ago in 2007.