The Church increases its support to people in need despite financial challenges
The Financial Report of the Archdiocese of Malta for 2022
08/08/2023 The Archbishop's Curia, FlorianaThe Archdiocese of Malta more than doubled its donations to individuals and increased subsidies to entities by 20% in 2022, despite recording a deficit of €8.8 million mainly due to losses on its investments attributable to a negative global economic landscape.
Speaking at a press conference to present the annual accounts of the Church in Malta, Administrative Secretary Michael Pace Ross explained that the impact of the war in Ukraine, rising interest rates, and inflationary pressures had adversely affected the income of the Archdiocese, which encompasses more than 100 entities and employs 1,300 staff members… Read more »