Some public services are likely to face cuts if the NHS swallows extra funding announced for Wales in Chancellor Rachel Reeves's spending review, experts have said.
There is a warning that "tough choices loom", even though the budget is expected to grow over the next three years.
Labour said it was investing in public services by boosting the Welsh government's budget.
But Plaid Cymru accused Wales' First Minister Eluned Morgan of "asking for very little and getting exactly that".
Welsh Finance Secretary Mark Drakeford said on Radio Wales Breakfast he recognised there "will be trade offs".
The Welsh government can raise taxes, but most of what it spends comes in a grant from the Treasury.
Its funding will be £22.4bn a year on average over the next three years as a result of the spending review.