The United Nations General Assembly Approves $3.59 Billion Budget for 2024, Including Special Account for Peacebuilding Fund.
The United Nations General Assembly has ratified a budget for the year 2024 amounting to $3.59 billion for the organization. This budget includes the establishment of a special account dedicated to funding the Peacebuilding Fund of the organization.
Additionally, the General Assembly approved approximately $50 million as additional funding for the Human Rights Council, the UN’s primary forum for human rights issues.
The General Assembly also decided to create a special multi-year account for peacebuilding. This account is designated for funding the Peacebuilding Fund. The assembly ratified $50 million from the annual subscriptions to finance the account, starting from January 1, 2025.
The UN Secretary-General had initially proposed a budget of $3.3 billion to the General Assembly in October, emphasizing to the delegates in the Fifth Committee, which deals with administrative and budgetary issues, that “the role of the United Nations is more important now than ever before.”
The Secretary-General of the United Nations also expressed concern about the deteriorating cash liquidity situation of the organization and urged member states to pay their subscriptions in full and on time.
In recent years, the United Nations (UN) has experienced changes and growth in its budget allocations, focusing on various sectors. For instance, in 2021, the UN’s regular budget was approved at $3.231 billion. This marked the second year that the organization allocated funds in a one-year fiscal cycle, following over four decades of biennial budgets.
In 2023, the proposed program budget was around $3.22 billion, as introduced by Secretary-General António Guterres. This budget was a part of the UN’s shift from a biennial program and budgetary cycle to an annual exercise, aiming for more realistic planning, focusing on results, and improving the accuracy of resource estimates. Notably, this budget included an increase of $3.6 million across the United Nations Conference on Trade and Development (UNCTAD), the Regular Programme for Technical Co-operation, and UN-Habitat, marking the fourth consecutive increase proposed for development since the start of the Secretary-General’s term. The budget also proposed strengthening work in counter-terrorism and human rights, as well as efforts to address racism within the UN Secretariat.
In 2023, the General Assembly adopted a $3.4 billion budget, which included various resolutions and decisions, such as those related to landlocked developing countries and the Occupied Palestinian Territory.
