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TOOL · GROSS COST

How much would a basic income cost in Philippines?

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

Adult population 82,023,644child population 32,867,555year 2023World Bank WDI

GROSS ANNUAL COST

945,191 million

in PHP₱945,191,246,400

Equal to 3.9% of reference GDP

Population covered: 114,891,199 people

Adults: 82,023,644 × ₱800 × 12 = ₱787,426,982,400

Children: 32,867,555 × ₱400 × 12 = ₱157,764,264,000

₱787,426,982,400 + ₱157,764,264,000 = ₱945,191,246,400

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 · $437,055,627,245 · World Bank WDI

Currency PHP · exchange rate 55.6304 PHP/USD (2023)

Converted cost $16,990,563,995 for the GDP share.