Spain's 2% pay raise for civil servants to cost 3.21 billion euros

Spain's regional policy ministry said on Tuesday that a 2% pay raise for civil servants, approved at a cabinet meeting earlier today, will cost 3.21 billion euros ($3.57 billion).

Last week, the recently formed leftwing coalition government had announced to unions that it would introduce the pay raise across the board for all civil servants as soon as possible. ($1 = 0.8998 euros)