TOOL · GROSS COST

How much would a basic income cost in Cyprus?

Calculate the gross annual cost of paying a monthly amount to the country’s adult and child population.

Country

Adult population 1,129,055child population 215,921year 2023World Bank WDI

Monthly amount per adult

Monthly amount per child

GROSS ANNUAL COST

11,875 million

in euros€11,875,348,800

Equal to 36.6% of reference GDP

Population covered: 1,344,976 people

Adults: 1,129,055 × €800 × 12 = €10,838,928,000

Children: 215,921 × €400 × 12 = €1,036,420,800

€10,838,928,000 + €1,036,420,800 = €11,875,348,800

Offset benefits, recovered tax, administrative savings and later economic effects are not deducted. This is a gross cost, not a net cost.

Sources and method

Population 2023 · World Bank WDI

GDP 2023 · $35,075,440,603 · World Bank WDI

Currency EUR · exchange rate 0.9248 EUR/USD (2023)

Converted cost $12,840,442,097 for the GDP share.