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TOOL · GROSS COST

How much would a basic income cost in Latvia?

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

Adult population 1,588,117child population 295,593year 2023World Bank WDI

GROSS ANNUAL COST

16,665 million

in euros€16,664,769,600

Equal to 42.1% of reference GDP

Population covered: 1,883,710 people

Adults: 1,588,117 × €800 × 12 = €15,245,923,200

Children: 295,593 × €400 × 12 = €1,418,846,400

€15,245,923,200 + €1,418,846,400 = €16,664,769,600

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 · $42,779,550,937 · World Bank WDI

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

Converted cost $18,019,092,552 for the GDP share.