U.N. approves $5.53 billion budget for 2014-2015

The General Assembly has approved a budget of $5.53 billion to cover the United Nations’ regular operations in 2014-2015, cutting it for a second successive time.

But U.N. members again delayed action on a key proposal that would allow greater mobility of U.N. staff.

After lengthy negotiations, the assembly finally voted Friday afternoon to cut the budget by 1 percent from the final spending level in 2012-2013. It also approved a 2 percent staffing cut, or some 221 posts, and a one year freeze in staff compensation.

The regular operating budget doesn’t include the U.N.’s far-flung peacekeeping operations which are funded by a separate budget, currently more than $7bn annually.

The United States, which pays 22 percent of the regular budget, welcomed the reduction in costs and staffing.