TOOL · GROSS COST

How much would a basic income cost in Micronesia?

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

Country

Adult population 76,443child population 36,187year 2023World Bank WDI

Monthly amount per adult

Monthly amount per child

GROSS ANNUAL COST

908 million

in US dollars$907,550,400

Equal to 204.9% of reference GDP

Population covered: 112,630 people

Adults: 76,443 × $800 × 12 = $733,852,800

Children: 36,187 × $400 × 12 = $173,697,600

$733,852,800 + $173,697,600 = $907,550,400

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 · $442,975,600 · World Bank WDI

Currency USD · exchange rate 1.0000 USD/USD (2023)