The EuroChambres predicts difficult times for the global economy.

The international business community expects a challenging year in 2023, according to the association’s website. In the European Parliament’s global economic survey based on the responses from trade and business organizations, which account for about 70% of global economic output, geopolitical tensions and instability are identified as the main challenges facing the global economy this year. Participants from the US and the UK believe that rising inflation caused by the sharp increase in food and energy prices is one of the main problems. Energy security is of particular concern in the European Union. The EuroChambres, the Association of European Chambers of Commerce and Industry, is one of the largest organizations representing over 20 million businesses in Europe through 45 member countries and a European network of 1,700 regional and local chambers.