The country’s government scored 3.74 (out of the maximum 7) in terms of its ability to manage risks, according to a poll of Lithuania’s SME executives.
The top three countries included Singapore (6.08), Qatar (6.01) and Oman (5.55), the WEF said in a report on Tuesday. Estonia ranked 28th with the score of 4.54 and Latvia was 93rd with the score of 3.24.
The WEF pointed out to the emergence of new risks in the increasingly globalized world where, for example, a YouTube video clip might spark riots in the Middle East or send United Airlines stock tumbling by 10 percent.
The respondents were asked to assess their government’s overall risk management effectiveness of monitoring, preparing for, responding to and mitigating against major global risks, such as financial crises, natural disasters, climate change, pandemics, etc., on a scale from 1 (not effective in managing major global risks) to 7 (effective in managing major global risks). More than 14,000 respondents were polled in the survey.
