Cost of Environmental Degradation (COED) is considered one of the main environmental performance indicators that provides degradation values per environmental category. The results of the COED could help inform decision-maker choices and improve the sustainable and growth strategies' outcomes. This paper sets out to produce a rapid COED for Egypt for the year 2020 for air and water as the two main environmental categories that impact the quality of life of Egyptians. As the first COED estimates for Egypt date back to the early 2000s, and partial COEDs were carried out in the 2010s, this paper would update the results for the most recent years for which data are available as means of determining the trends in environmental degradation and the specific areas of air and water where sustainable environmental management is most needed. Also, the results of the COED provide Egyptian policymakers with an important tool to support them in making informed choices and better integrate the environment into economic development decisions.