Egypt’s economic growth rate would decrease to 2 percent during the next fiscal year 2020/2021 if the COVID-19 crisis continued until December 2020, warned Minister of Planning Hala el-Saeed. Earlier in April, Saeed said Egypt is targeting 4.5 percent growth in FY 2020/2021, but it may drop to 3.5 percent if the coronavirus crisis continues until the middle of the fiscal year. The Minister was discussing the basic features of the sustainable development plan for FY 2020/2021 before the plan and budget parliamentary committee, during the discussion of the states draft general budget. She reviewed Egypt’s economic performance before the coronavirus pandemic, noting that the economic growth reached 5.6 percent and the unemployment rate dropped to less than 8 percent. In addition, inflation slowed to 5 percent and non-oil deficiency fell 24 percent. Saeed added, in a press statement, that data for FY 2019/2020 showed the government implemented investments amounting to EGP113 billion during the July - March period, with a growth rate of 23 percent compared to the same period in the previous fiscal year. The Minister indicated that private investments are expected to drop, which will in turn affect total investments, estimated at EGP740 billion during 2020/2021, as a result of the coronavirus crisis. However, she noted that if the crisis continues until mid-FY 2020/2021, investments are expected to drop by about 30 percent. During the committee’s session, Finance Minister Mohamed Maait confirmed that the state seeks to develop its resources, amid the economic conditions imposed by COVID-19 pandemic around the world. He indicated that this is a new situation and revenues are negatively affected by its implications, noting that the government follows the logic of calm crisis management. Maait explained that the cabinet wants to expand the state’s resources to avoid inflation and high prices in the future, asserting that the state took decisions at difficult times to ensure the best is done in the interest of the citizens. The Minister pointed out that the draft law has been under discussion since June 2018 and has been reviewed many times to achieve the interests of the state. The committee approved the draft law that includes increasing fees imposed on some items, as well as imposing new fees on contracts of sports players and management, sports company licenses, as well as mobile devices and accessories.