BERLIN, Jan 25 Reuters The international business community expects a challenging 2023 marked by geopolitical tensions, high inflation and the energy crisis, according to the Eurochambres global economic survey published on Wednesday.

The report, based on the responses of trade and commerce organisations representing around 70 of world economic output, shows prolonged geopolitical tensions and instability as the top challenges for the global economy this year.

In the short term, we are in a difficult economic situation, Eurochambres39; president Luc Frieden told Reuters.

Participants from the United States and the United Kingdom see rising inflation fuelled by soaring food and energy prices among the top challenges.

Inflation is still too high, Frieden said, adding that there should be improvements in the main drivers energy prices and supply chains problems as the year progresses.

The supply chain issues will not be resolved overnight, given the impact of the the COVID19 pandemic and the Ukraine war, Frieden said, adding that he expected some improvements in the second half of 2023.

Energy security is of particular concern in the European Union. While Europe has achieved a lot in the crisis, buying energy in a coordinated way and investing more in renewable energy, he said, there is more that Europeans can do together.

Europe continues to be in a difficult situation, there is no strong growth, he said.

Survey participants were asked about their…