'Big Step in Right Direction': US Envoy to UN Pleased With Efficient Budget Cuts

"This historic reduction in spending – in addition to many other moves toward a more efficient and accountable UN – is a big step in the right direction," Haley said in a statement.

Haley stressed that the Washington would continue to look at ways to increase the UN’s efficiency‎ while protecting the country's interests.

"The inefficiency and overspending of the United Nations are well known. We will no longer let the generosity of the American people be taken advantage of or remain unchecked," Haley added.

Earlier on Sunday, the UN General Assembly adopted the organization's budget for 2018-2019 at $5.395 billion. According to the US Mission to the United Nations, the United States negotiated a more than $285 million cut off the 2016-2017 budget, reduced the UN’s management and support functions and increased discipline and accountability throughout the UN system.

The regular budget of the United Nations is formed from contributions by the 193 member states. Payments are estimated based on the country's solvency and are calculated on the basis of the countries' average GDP and income per capita. The United States traditionally provide the largest contribution, or 22 percent of the total, a limit for country's individual contribution. The shares of Japan and China are 9.6 percent and 7.9 percent, respectively. Russia accounts for about 3 percent of the organization's budget.