Home » Breaking News, Business » UN General Assembly Approves $5.5 Billion UN budget for 2014-2015

The General Assembly has approved a budget of $5.5 billion for the United Nations to carry out its vital work over the next two years.

The 193-member body approved the budget for the biennium 2014-2015 by consensus, acting on the recommendation of its committee dealing with administrative and budgetary matters, known as the Fifth Committee on Friday

“The new budget is lower than the one for the previous biennium, reflecting our shared wish for a fiscally responsible Secretariat,” Secretary-General Ban Ki-moon said in a message delivered to the Assembly meeting by his Chef de Cabinet, Susana Malcorra, following the decision.

“We will continue to adapt and equip the United Nations to better implement its mandates,” he said, adding that he has urged all managers to rethink their business practices, reduce overlap, embrace innovation, encourage creativity and build synergies.

Mr. Ban also stated that it would be unrealistic to presume that any substantial budget reduction will have no impact while mandates keep growing.

“The time may have come for you to consider reviewing mandated activities that may have been fulfilled or overtaken by new developments,” he stated.