All cities and countries in the world have some characteristic that differentiates them from others and where it can exploit to grow their economy. However, The smallest state in the world It is not behind monetary wealth, but spiritual.
The Vatican Citya state city located within Rome, Italy, is the headquarters of the Roman Catholic Church. It is the home of the Pope and is a treasure of historical architecture and art, however it has a quite peculiar political and economic functioning.
Public Administration
The state of the city of the Vatican is found in Rome, It has an area of half a square kilometer and has about 800 inhabitants, who live in a territorial limitation designated according to the Italian State through the Lateran pactson February 11, 1929.
The form of government of the Vatican is the absolute monarchy. Interestingly, his ‘king’, the Dad, It is chosen by suffrage, but limited. To choose the Supreme Pontiff, who also meets the role of head of state, only the Cardinals under 80 years.
Due to the particularity of the division of powers, the Vatican is universally recognized as Sovereign Entity of International Public Lawdifferent from the Holy Seewhich is the sovereign organ of the Catholic Church. However, they are united: in the Vatican, the Pope and the Holy See develop their government mission of the Universal Church.
The legislative provisions can be dictated by the Supreme Pontiff or, in their name, by the Pontifical Commission For the state of the city of the Vatican, which also promulgates the General Regulations. The Executive Power is in the hands of the Pontifical Commission for the State of the city of the Vatican, in charge of the president of the Government
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Vatican’s economy
The economy of the city of the Vatican is funded by Catholics contributionsknown as the San Pedro Obolo, as well as through the sale of postal stamps and Memories of touriststickets to museums and sale of merchandising. In addition, there are pharmacies, mail service, supermarket and even a train line, but the inhabitants of the Vatican state They do not pay direct taxes.
This is because they exist bilateral agreements with different countries that exempt taxes at the Holy See and the activities carried out in various nations due recognition of the social and religious work of the Catholic Church. The Vatican also has global financial services through the Institute for Works of Religion (Banco Vaticano), currently immersed in a deep review to be able to leave the Black List of countries at risk of corruption.
Source: Ambito
