The Egyptian parliament approved legal amendments to develop the state’s resources about 15 billion pounds annually by increasing the fees imposed on some services and introducing other new fees on a number of activities and goods.

According to Reuters, the fees, which increased in value, included real estate registration services, purchases from duty-free shops, parties and entertainment services for hotels and tourist shops.

According to Reuters, The government introduced new fees for mobile devices and their accessories at 5% of their value, along with imposing fees of 2.5% of the value of internet bills for companies and establishments and fees for raw tobacco .

Among the fees developed is up to 10% of the value of athletes' transfer contracts and fees for licenses for sports services companies, dog food, cats, and pet birds.

The House of Representatives agreed to impose a fee on gasoline of all kinds, at 30 piasters per liter of sales and 25 piasters per liter of diesel.

In April, Egypt reduced gasoline prices by only 25 piasters for various octane categories, in violation of analysts' expectations that were for deeper cuts in light of the collapse of global oil prices.

"The increase that will be applied to the price of diesel and gasoline will not result in a single dime increase for the citizen," said Mohammed Moait, Minister of Finance, before the House of Representatives. But he did not explain how.

Hussein Issa, head of the Plan and Budget Committee in the Egyptian House of Representatives, told Reuters a draft law on the fee for developing state resources targets the outcome of about 15 billion pounds annually, explaining that the goal of the law is to compensate for the decline In state revenue amid the repercussions of the Corona pandemic.

The step is correct and timely to try to tackle the budget deficit problem and offset part of the tax resources expected to decline in light of the repercussions of the crisis, ”said Radwa Al-Swaify, head of research at Pharos Investment Bank. Corona ... will not have much impact on inflation.

This comes in light of the stoppage or curtailment of some economic activities due to the measures imposed to contain the spread of the Corona virus, which is expected to have severe repercussions on the Egyptian economy due to the stoppage of the tourism sector It is vital for jobs and foreign exchange flows, as it has pushed authorities to close airports, restrict restaurants and shops, and impose a night curfew.