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As the truth of our economic predicament sets in, readers may find it useful to look back at previous budgets since 2001.

One will easily note that in a nine-year period up to 2010, national budgets increased by over 300%, and while this happened, oil and gas production declined, there were drastic declines in drilling, negligible diversification, foreign investment plunged, and the State was plagued by over-budget mega projects.

In the years 2011 to 2015, national budgets increased by approximately 26% in spite of non-boom oil and gas prices, with increases in oil and gas exploration and new investments, as well as completed and delivered large-scale projects.