The diagnostic test now costs EGP 900 instead of EGP 1,200 for Egyptians planning on travelling abroad, and EGP 1,200 instead of 1,600 for non-Egyptian travellers, the statement said.
The cabinet said the step was taken due to the drop in the price of PCR test kits.
Egypt also will provide for the first time a same-day COVID-19 test for EGP 1,600 for Egyptian travellers and EGP 1,800 for non-Egyptian travellers.
A number of countries require a negative PCR test for unvaccinated people before allowing entry.
In June, Egypt allowed travellers who are fully vaccinated with WHO-approved coronavirus vaccines to enter without taking a PCR test.
However, arrivals from countries impacted by coronavirus variants are subject to a 15-minute molecular test, known as ID NOW, upon arrival, with a PCR test to be performed at the arrival airport if results come back positive.