TOOL · GROSS COST

How much would a basic income cost in Libya?

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

Country

Adult population 5,262,910child population 2,042,749year 2023World Bank WDI

Monthly amount per adult

Monthly amount per child

GROSS ANNUAL COST

60,329 million

in LYDLYD 60,329,131,200

Equal to 28.5% of reference GDP

Population covered: 7,305,659 people

Adults: 5,262,910 × LYD 800 × 12 = LYD 50,523,936,000

Children: 2,042,749 × LYD 400 × 12 = LYD 9,805,195,200

LYD 50,523,936,000 + LYD 9,805,195,200 = LYD 60,329,131,200

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 · $44,027,664,915 · World Bank WDI

Currency LYD · exchange rate 4.8129 LYD/USD (2023)

Converted cost $12,534,924,913 for the GDP share.