Mayor Eric Adams seemingly did a victory lap on Wednesday, just one day after announcing that the city is going to be able to avert major budget cuts.

Adams said the rollbacks resulted from better-than-expected revenues and overestimates on the costs to help arriving migrants.

“That difference in cost allowed us to look at some of those projections and re-instate some of those dollars so it was really fiscal management that made this happen in the correct,” said the mayor on NY1’s “Mornings on 1.”

On Tuesday, Adams proposed a $109.4 billion budget that included restoration of funding to the police, fire and sanitation departments, as well as rollbacks on cuts to education, parks and youth programming.

“We knew we wanted to invest in people, public safety and spaces, and continue the success of bringing down crime and increasing jobs,” said Adams while appearing on PIX 11.

Adams also responded to criticism that his administration was made aware months ago by the City Council that there was going to be higher than anticipated revenue growth.

“We’re always fiscally conservative when it comes down to financial projections because we can’t make a mistake. And now the projection we have is a little higher than the city council’s projection,” Adams said on Fox 5 Wednesday.

But the about-face has left some confused and asking questions about the actual state of the city’s finances.

“He created a crisis, told people there was no money, blamed the presence of migrants for the crisis and then told us yesterday, ‘Oh never mind we do have the money.’ So he has been a very chaotic and unsteady leader,” Ana María Archila, co-director of the New York Working Families Party, said.

Archila said the new budget casts more doubt than confidence in the mayor’s management abilities.

“Did he just not not know the numbers or did he misinform people about the numbers?” she said. “I think it creates a level of uncertainty in people’s lives that is totally unnecessary.”

But economic experts said that all the accounting adds up.

“If they had done this a couple of months ago, yes, the problem would have looked smaller, but it would have been the same result. We would have still needed these savings plans and we would have still needed more savings plans to stabilize the future,” said President of the Citizens Budget Commission Andrew Rein, who independently reviews the city’s budget.

Rein noted that even the few restorations in public safety and parks were a fraction of the reductions and that overall, the cuts were critical to closing the $7 billion budget gap.

“Between the two savings plans, January and November, there’s literally over $4 billion of reduction and spending and he restored $200 million,” he said Wednesday. “He didn’t really change the trajectory of these savings plans because they are there, and they are needed.”

Along with his budget address, Adams also announced a new independent budget panel to help the city manage its finances. The panel did not weigh in on the mayor’s proposed budget, but could have future recommendations.

They are tasked with helping the city “identify creative ways to protect vital services for New Yorkers, achieve efficiencies and cost savings, and maximize federal and state aid to the city.”