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TOOL · GROSS COST

How much would a basic income cost in Gambia?

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

Adult population 1,598,990child population 1,098,855year 2023World Bank WDI

GROSS ANNUAL COST

20,625 million

in GMDGMD 20,624,808,000

Equal to 14.2% of reference GDP

Population covered: 2,697,845 people

Adults: 1,598,990 × GMD 800 × 12 = GMD 15,350,304,000

Children: 1,098,855 × GMD 400 × 12 = GMD 5,274,504,000

GMD 15,350,304,000 + GMD 5,274,504,000 = GMD 20,624,808,000

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 · $2,382,262,185 · World Bank WDI

Currency GMD · exchange rate 61.0963 GMD/USD (2023)

Converted cost $337,578,493 for the GDP share.