Spain's government announced an annual budget including €27.3 billion (around $36 billion) worth of fresh spending cuts, one day after it faced a nationwide general strike, and said it would continue its increasingly unpopular austerity budget drive: "The austerity budget is a key step in the Spanish government's plan to cut the country's budget deficit by tens of billions of euros this year, to 5.3% of gross domestic product from last year's 8.5% of GDP, or around €90 billion."