Mayor Eric Adams on Wednesday called off the next round of budget cuts — sparing all city agencies further belt-tightening and lifting a hiring freeze — citing “better-than-expected” revenue and further reductions in migrant spending.

City Hall, in part, attributed the cancellation of the third wave of 5% cuts anticipated for this fiscal year to a 10% slash in spending on care for the tens of thousands of asylum seekers in the Big Apple, bringing the total cost of the crisis at around $10 billion through FY2025.

“Make no mistake — we are not yet out of the woods, as we still need Albany and Washington, DC to play their roles in providing New Yorkers with additional support,” Adams said, praising his administration for maintaining the city’s bond rating during the migrant crisis.

The mayor had signalled that the controversial cuts could be reversed when he unveiled his $109.4 billion budget plan last month, noting an expected influx of state funds to address the city’s migrant crisis in the next fiscal year.

But Adams’ Wednesday announcement — in a pre-taped interview aired on WABC-TV and a press release — was a stark contrast to the multi-day media tour last month when his administration slowly restored a handful of controversial budget cuts, including of the NYPD’s final recruit class this year and to FDNY staffing.

Hizzoner was actually in Missouri during the announcement, slated to tour the World Wide Technology, which has a pair of contracts with NYC for roughly $400 million, according to his schedule and city records. 

“You’re not going to see some of those draconian steps that we were going to have to take that will get in the way of the cleanliness and the safety of our city,” Adams said on WABC.

At the same time, the spending reductions already on the books for this year and next, including the cancellation of fiscal year 2025’s four police academy classes, have not been reversed.

The NYPD is still expected to see its headcount dwindle by a few thousand, bringing its uniformed force below 30,000 for the first time since the 1990s as part of the cuts.

The varying revenue projections from the Adams administration and the City Council — and the steep reductions in city spending to cover the migrant crisis — have put the two sides at odds for months.

The mayor has repeatedly said that the council was being “too liberal” with revenue projections, while the lawmakers have insisted the Adams administration was severely underestimating the city’s incoming funds.

When Adams and his budget director Jacques Jiha rolled out their budget plan in January, the city’s revenue surpassed the council’s projections.

“We are relieved that Mayor Adams and his Administration have heeded the calls and advocacy of the Council and New Yorkers who have sought a better approach to our city’s budget that protects essential services our constituents rely on,” Speaker Adrienne Adams and Finance Chair Justin Brannan said in a joint statement Wednesday. 

The Big Apple’s teacher’s union also welcomed the move from City Hall.

“We are glad our advocacy helped persuade City Hall to abandon its next round of proposed budget cuts,” Michael Mulgrew, president of the United Federation of Teachers, said.