(BSS) - Finance Minister Amir Khosru Mahmud Chowdhury has said uncertainty has become the new normal in the global economy, stressing that sound, evidence-based policymaking is essential amid sluggish global growth, high borrowing costs and rising trade protectionism.

"Accurate and data-driven policymaking is the key to navigating the current economic challenges," he said while addressing the closing ceremony and prize-giving event of the grand finale of `EconThon 2026`, a national inter-university economics competition.

The competition was organised by the Junior Economists Forum (JEF) in collaboration with the Department of Economics at United International University (UIU) in the city today, said a press release.

The finance minister said practical solutions and the effective use of data were crucial to policymaking.

Officials at the Ministry of Finance regularly face unexpected challenges that require sound decisions based on limited information, he added.

Congratulating the finalists, he said, 224 teams from universities across the country had registered for the competition.

Participants advanced through rigorous rounds involving quizzes, case-solving and policy-making exercises to reach the final stage, he added.

Highlighting the current economic challenges, Amir Khosru said rising energy prices, pressure on foreign exchange, the impacts of climate change and inflation had placed considerable strain on people`s purchasing power.

He stressed the need to ensure macroeconomic stability and modernise the tax system to address these challenges.

"Ensuring transparency and the effective use of every taka of taxpayers` money remains our priority," he said.

Addressing the students, the minister emphasised the importance of combining professional skills with integrity and humanity.

"No nation can progress without skills, and without honesty and humanity, those skills cannot guide society in the right direction," he said.

He urged the students to go beyond academic examinations and develop a deeper understanding of economics, encouraging them to work for the country with integrity and a commitment to sound policymaking.

UIU Board of Trustees Chairman and United Group Chief Adviser Hasan Mahmud Raja attended the programme as the guest of honour.

UIU Board of Trustees member and United Group Adviser KMA Shamim was present as a special guest.

UIU Vice-Chancellor (VC) Professor Dr Md Abul Kashem Mia chaired the event.

The finance minister distributed prizes among the winning teams and certificates and recognition to participating teams at the closing ceremony.