VATICAN CITY, JULY 1, 2009 ( Benedict XVI's new encyclical, titled "Caritas in Veritate," will be released Tuesday, the Vatican announced.

The Vatican press office confirmed today that the Pope's first social encyclical, which is expected to offer an analysis of the current economic crisis, will be presented at a press conference in the late morning July 7. The text will then be released to the public at midday, local time.

Cardinal Renato Raffaele Martino and Bishop Giampaolo Crepaldi, respectively president and secretary of the Pontifical Council for Justice and Peace, will present the encyclical at the press conference.

The Vatican also noted that Cardinal Paul Josef Cordes, president of the Pontifical Council Cor Unum, will speak, as will Stefano Zamagni, professor of political economy at the University of Bologna, Italy and consultor of the Pontifical Council for Justice and Peace.

The encyclical's release is one day before the Group of Eight will begin an international summit in L'Aquila, Italy.

The Holy Father signed the encyclical Monday, the solemnity of Sts. Peter and Paul.

That same day, before praying the Angelus with those gathered in St. Peter's Square, Benedict XVI explained that the encyclical is a reflection on the conditions necessary for "integral development." He added that it returns to social themes found in "Populorum Progressio," written by Pope Paul VI in 1967.

He explained that it "aims to go deeper in certain aspects of the integral development of our age, in the light of charity in truth."

"I entrust to your prayer this new contribution that the Church offers to humanity in its commitment to sustainable progress, in full respect of human dignity and the real needs everyone has," Benedict XVI said.

"Caritas in Veritate" is the first social encyclical to be written in almost two decades. Pope John Paul II penned "Centesimus Annus" in 1991, a century after Pope Leo XIII's "Rerum Novarum."

The encyclical will be released in English, Italian, Spanish, French, German and Portuguese.