Countries should create reserve funds for emergencies, Vladimir Matus, an auditor of the Supreme Audit Office of Slovakia, said at the annual meeting of the Working Group on Environmental Auditing (WGEA) of the European Organization of Supreme Audit Institutions (EUROSAI) held in Baku, Report informs.
"There should be reserve funds to cover damages caused by natural disasters. These funds are crucial for immediate elimination of damages and maintaining economic stability," Matus noted.
He recommended developing insurance mechanisms at the state level to protect against disasters: "This can ensure covering economic losses by insurance guarantees."