Economic conditions have deteriorated further in the past six months, with recent devastating floods adding to ongoing challenges associated with armed conflict and macroeconomic volatility. In conjunction with heavy monsoon rains, Typhoon Yagi, which struck Myanmar in early September, triggered flooding which is estimated to have affected 2.4 million people (4.4 percent of the population) across 192 townships. About 20 percent of total built-up structures (more than half a million buildings) and nearly 10 percent of Myanmar's roads were affected by the floods, alongside damages to other infrastructure. Results from the September/October round of the World Bank Firm Survey indicate that more than a third of firms were affected by these floods, including more than half of all agricultural firms. Typhoon Yagi, Cyclone Mocha in May 2023, and the widespread impacts of related floods are stark reminders of natural disaster risks in Myanmar which are expected to worsen further with climate change. International benchmarking indicates that despite its high climate vulnerability Myanmar's disaster preparedness is relatively low, amplifying social and economic risks.