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TOOL · GROSS COST

How much would a basic income cost in Grenada?

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

Adult population 93,845child population 23,236year 2023World Bank WDI

GROSS ANNUAL COST

1,012 million

in XCDEC$1,012,444,800

Equal to 28.1% of reference GDP

Population covered: 117,081 people

Adults: 93,845 × EC$800 × 12 = EC$900,912,000

Children: 23,236 × EC$400 × 12 = EC$111,532,800

EC$900,912,000 + EC$111,532,800 = EC$1,012,444,800

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 · $1,336,418,519 · World Bank WDI

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

Converted cost $374,979,556 for the GDP share.