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TOOL · GROSS COST

How much would a basic income cost in South Africa?

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

Adult population 46,723,498child population 16,488,886year 2023World Bank WDI

GROSS ANNUAL COST

527,692 million

in ZARZAR 527,692,233,600

Equal to 7.5% of reference GDP

Population covered: 63,212,384 people

Adults: 46,723,498 × ZAR 800 × 12 = ZAR 448,545,580,800

Children: 16,488,886 × ZAR 400 × 12 = ZAR 79,146,652,800

ZAR 448,545,580,800 + ZAR 79,146,652,800 = ZAR 527,692,233,600

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 · $381,440,724,491 · World Bank WDI

Currency ZAR · exchange rate 18.4502 ZAR/USD (2023)

Converted cost $28,600,826,552 for the GDP share.