Inflation puts pressure on people's purchasing power: Khosru
Restoring confidence in the banking sector is essential. At the same time, increasing investment and employment is now one of the country's biggest priorities, he says.
Finance Minister Amir Khosru Mahmud Chowdhury has said inflation is putting pressure on people's purchasing power.
Boosting investment and employment, restoring confidence in the banking sector and increasing revenue collection remain key economic priorities, he said at the grand finale of EconoCon 2026 at United International University (UIU) in the capital today (3 October).
The finance minister said Bangladesh stands at a critical juncture, with inflation affecting people's purchasing power and tax collection as a proportion of GDP remaining far below requirements.
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"Restoring confidence in the banking sector is urgent," he said, adding that increasing investment and employment is also one of the country's biggest priorities.
Highlighting global economic uncertainties, Khosru said global growth is slowing, financing costs are higher than in the past decade, and protectionism and tariff barriers in international trade are rising.
Geopolitical conflicts have kept energy and transport costs volatile, while climate change is adding to economic losses each year, he said.
As an import-dependent and export-oriented economy, Bangladesh directly absorbs the impact of such global shocks, which are reflected in commodity prices, exchange rates and export orders, he added.
Under these circumstances, the government is prioritising inflation control, restoring confidence in the banking sector and improving the climate for private investment, the minister said.
He called for structural changes to the tax system and greater effectiveness in public spending on education, health and social protection.
"Maximum benefit must be ensured for every single taka," he said.
On preparations for LDC graduation, Khosru said the national economy must be prepared for changing global and domestic realities, regardless of the timeline.
He also highlighted the uncertainty involved in policymaking, saying decisions must be taken with accountability to the public even with incomplete information and limited time.
"Formulating good policies alone will not suffice," he said, stressing that policy implementability, costs and resulting benefits must also be considered.
Addressing young people, Khosru said economics is not only about passing examinations but also about understanding reality. Alongside skills, he said, young people need honesty, humanity and accountability towards the country.
"If the youth can dream, work hard and move forward with honesty, no one will be able to halt Bangladesh's progress," he said.
The competition was organised by the Junior Economists Forum (JEF) in collaboration with the UIU Department of Economics. A total of 224 teams from universities across the country registered for EconoCon 2026.
Prize money totalling Tk2.65 lakh was awarded. The "Veni Vidi Vici" team from North South University became grand champion and received Tk1 lakh. The "Seld" team from Dhaka University and "Dhaka 99" from UIU became the first and second runners-up, receiving Tk75,000 and Tk50,000 respectively.
