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TOOL · GROSS COST

How much would a basic income cost in Dominica?

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

Adult population 54,465child population 12,045year 2023World Bank WDI

GROSS ANNUAL COST

581 million

in XCDEC$580,680,000

Equal to 32.6% of reference GDP

Population covered: 66,510 people

Adults: 54,465 × EC$800 × 12 = EC$522,864,000

Children: 12,045 × EC$400 × 12 = EC$57,816,000

EC$522,864,000 + EC$57,816,000 = EC$580,680,000

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 · $659,311,111 · World Bank WDI

Currency XCD · exchange rate 2.7000 XCD/USD (2023)

Converted cost $215,066,667 for the GDP share.