STORY: UN CUTS BUDGETDATELINE: Dec. 25, 2011LENGTH: 0:01
:04LOCATION: UNITED NATIONSPKGINTRO:After a series of all-night negotiations, the 193 UN member countries agreed to cut its budget.The cut is the second in the past 50 years.Let's see the details.PKG:The 2012-2013 budget set at 5.15 billion U.S. dollars, down from 5.41 billion U.S. dollars in 2010-2011.The United States and crisis-stricken European countries had fought for cuts while developing countries had demanded spending be kept up.UN Secretary General Ban Ki-moon said, welcoming the accord and vowing more cuts in coming months.This accord is the first since 1998 -- and the second in the last 50 years -- that the UN regular budget has declined in comparison to the previous budget's actual expenses.The UN leader acknowledged that the global body has to "cut fat." It has already cut posts and contracted out services in many departments at the New York headquarters.
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