TOOL · GROSS COST

How much would a basic income cost in Trinidad & Tobago?

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

Country

Adult population 1,120,989child population 246,521year 2023World Bank WDI

Monthly amount per adult

Monthly amount per child

GROSS ANNUAL COST

11,945 million

in TTDTTD 11,944,795,200

Equal to 7.1% of reference GDP

Population covered: 1,367,510 people

Adults: 1,120,989 × TTD 800 × 12 = TTD 10,761,494,400

Children: 246,521 × TTD 400 × 12 = TTD 1,183,300,800

TTD 10,761,494,400 + TTD 1,183,300,800 = TTD 11,944,795,200

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 · $25,036,993,423 · World Bank WDI

Currency TTD · exchange rate 6.7503 TTD/USD (2023)

Converted cost $1,769,530,505 for the GDP share.