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Vatican posts $19 million deficit, misfortune in years

VATICAN CITY (AP) — The Vatican has purebred one of a misfortune deficits in years, plunging behind into a red with a €15 million ($19 million) necessity in 2011 after a brief remit of profit.

The Vatican on Thursday blamed a bad outcome on high crew and communications costs and inauspicious marketplace conditions.

Not even a €50 million present to a pope from a Vatican bank and increasing donations from dioceses and eremite orders could equivalent a losses and bad investment returns.

The Vatican pronounced it ran a €14.9 million necessity in 2011 after posting a distinction of €9.85 million in 2010. The 2010 profit, however, was something of an anomaly. In 2009 a Vatican ran a necessity of €4.01 million, in 2008 a necessity was €0.9 million and in 2007 it was scarcely €9.1 million.

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