Sunday, December 18, 2016

Czech Catholic Church finds news sources of revenue as state compensations decrease

Image result for czech republic flagThe Catholic Church in the Czech Republic has invested in farming, brewing, and buildings to use funds won from the government in restitution for the suppression of the Church during the years of Communist rule.

In 2012, the government agreed to pay the Church compensation for the seizure and/or destruction of land, churches, and other assets by the Communists. 

Under the restitution plan, the Church will receive about $2.9 billion in payments made through 2043. 

The government has also restored to the Church properties valued at well over $3 billion. 

To make use of these funds—and to prepare for the gradual elimination of state support—Church officials in the Czech Republic have invested in a variety of financial products, as well as other businesses. 

An AP report estimates that the Catholic Church provided 3,100 jobs in 2015, with a greater number of jobs opening this year, making the Church one of the country’s leading employers.

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