The Vatican recently introduced a fundraising video centered around the newly elected Pope Leo, encouraging supporters to back his mission in the face of a significant financial crisis within the Catholic Church.

The one-minute video, displayed on large screens in St. Peter's Square, captures the moment of Leo's election on May 8, showcasing his first words as pope, 'Peace be with you all,' along with scenes of enthusiastic crowds, all set to soothing piano music.

The video emphasizes the importance of contributing to Peter's Pence, a papal fund that aids church initiatives and charitable endeavors. In 2023, this fund received 48.4 million euros in donations, with the United States being the largest contributor, accounting for just over 28% of the total. However, expenses exceeded donations, with the fund disbursing 103 million euros that year.

By donating to Peter's Pence, individuals can provide concrete support as Pope Leo embarks on his journey as the Holy Father. The video encourages viewers to help spread the Gospel globally and assist those in need.

While the Vatican has not released a comprehensive budget report since 2022, the most recent financial accounts, approved in mid-2024, revealed an 83-million-euro shortfall. Additionally, the pension fund deficit was estimated to be approximately 631 million euros in 2022, a figure that is believed to have increased according to insiders.