Finance Minister Amir Khosru Mahmud Chowdhury has said uncertainty has become the “new normal” in the global economy amid sluggish growth, high borrowing costs and rising trade protectionism.

“Correct and data-driven policymaking is the key to navigating these challenging times,” he said.

The minister made the remarks as the chief guest at the closing and prize-giving ceremony of Econthon 2026, a national inter-university economics competition, at United International University (UIU) in Dhaka on Saturday.

The competition was organised by the Junior Economists Forum (JEF) in collaboration with the Department of Economics of UIU.

Khosru said practical solutions and the proper use of data were essential for effective policymaking.

“At the Ministry of Finance, we regularly face unexpected situations where we have to make the right decisions based on limited information,” he said.

He praised the students who reached the final round after going through several challenging stages of the competition.

A total of 224 teams from universities across Bangladesh registered for Econthon 2026. The competition included quiz, case-solving and policy-making rounds.

The finance minister said rising energy prices, pressure on foreign exchange, the effects of climate change and inflation had put pressure on people’s purchasing power.

He said macroeconomic stability and modernisation of the tax system were needed to address these challenges.

“Ensuring transparency and effective use of every taka paid by the people in taxes is our priority,” Khosru said.

Addressing the students, he said skills were essential for a nation’s progress, while integrity and humanity were necessary to ensure that those skills were used in the right direction.

“Economics is not just a subject for passing examinations. You have to understand it and work for the country with integrity and sound policy judgement,” he said.

UIU Board of Trustees Chairman and United Group Chief Adviser Hasan Mahmud Raja attended the event as an honoured guest.

UIU Board of Trustees member and United Group Adviser K M A Shamim attended as a special guest.

UIU Vice-Chancellor Professor Dr Md Abul Kashem Mia presided over the programme.

At the closing ceremony, the minister handed over prizes to the winning and participating teams.