A bit conservative although not too cautious budget from a top view, with lower overall gross amount as compared to last year. Quantum for development reduces but higher in percentage shows bullish outlook but moderately positive. Lower targeted deficit should to some extent improves investors confidence in management of overall debt. Just my 2 cents.

1/6 of budget was funded from NOC hopefully reducing impact of lowering tax base. Need full comparison with previous year's budget for a better understanding when thin slicing the budget.