First Minister Carwyn Jones repeatedly told AMs in the chamber that local health boards are "expected to come in on target".
He also stressed that his party in government "will always ensure that the NHS will be properly funded" on 27 November 2012.
Conservative and Liberal Democrat leaders challenged the first minister on the matter following comments made by the NHS's Chief Executive's in the
public accounts committee
earlier that morning.
David Sissling told committee members that he agreed with an assessment that the service faces the risk of a £70m deficit this financial year as he explained that a £50m contingency fund has been set aside which could be used to balance the books.
Carwyn Jones AM however continued to deny that the health boards were in financial trouble as he argued that the Wales Audit Office report shows that the NHS is in a better position than last year.
Kirsty Williams AM challenged him to say which services would close if there is to be "no bail-out" .
There are "real issues over the NHS in Wales" warned Andrew RT Davies as he criticised the "lack of substance from the government benches".
Plaid Cymru leader Leanne Wood raised the issue of the social enterprise council as she questioned how the programme hailed as "flagship" could now be ditched.
"No final decisions have been made" according to the first minister.
He also answered questions on domestic violence, Welsh veterans of the Russian convoys in World War II and the government's plans to celebrate the 350th anniversary of the 1662 prayer book.
Read this in Welsh.