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Economic challenges include inflation, banking and jobs: Finance Minister

Published : Saturday, 3 October, 2026 at 8:20 PM
Observer Online Report
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Inflation, low tax collection, restoring confidence in the banking sector, and increasing investment and employment are among the major challenges facing Bangladesh’s economy, Finance Minister Amir Khosru Mahmud Chowdhury said on Saturday.

He made the remarks at the grand final of the National Inter-University Economics Competition ‘Econothon 2026’ at United International University (UIU) in Dhaka.

The minister said inflation had reduced people’s purchasing power, while tax collection remained low compared with GDP. He said restoring confidence in the banking sector and increasing investment and employment had also become urgent.

He said the government’s priorities included restoring macroeconomic stability and price stability, making the tax system fair, simple and technology-driven, ensuring good governance in the banking sector, improving the investment climate, and ensuring effective use of public funds in education, health and social protection.

“Everything will not be fixed in one day, but we will remain committed to these goals,” he said.

On the global economy, Amir Khosru said global growth had slowed, financing costs had increased compared with the previous decade, and protectionism and tariff barriers in international trade had risen.

He said geopolitical conflicts had made energy and transport costs volatile, while climate change was adding to economic losses every year.

As an import-dependent and export-oriented economy, Bangladesh is directly affected by these global shocks, he said, adding that their impact is reflected in commodity prices, the exchange rate and export orders for local factories.

On Bangladesh’s preparations for graduation from the least developed country category, the minister said the economy must be prepared in line with changing global and domestic realities.

He also urged Econothon participants to develop the ability to think under pressure, adapt to changing circumstances and defend their positions with logic, saying these were important skills for policymaking.

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