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TOOL · GROSS COST

How much would a basic income cost in Mongolia?

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

Adult population 2,344,987child population 1,136,158year 2023World Bank WDI

GROSS ANNUAL COST

27,965 million

in MNTMNT 27,965,433,600

Equal to 0.0% of reference GDP

Population covered: 3,481,145 people

Adults: 2,344,987 × MNT 800 × 12 = MNT 22,511,875,200

Children: 1,136,158 × MNT 400 × 12 = MNT 5,453,558,400

MNT 22,511,875,200 + MNT 5,453,558,400 = MNT 27,965,433,600

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 · $20,325,121,394 · World Bank WDI

Currency MNT · exchange rate 3,465.7365 MNT/USD (2023)

Converted cost $8,069,117 for the GDP share.