Flooding in Manila in August 2016 almost brought the economy to a standstill. Financial markets closed, transportation suffered severe disruption and factories were closed. The Department of Agriculture estimates the damage to crops could be as high as USD$ 49.5 million (PHP2.6 billion). Home and car damage is expected to reach USD$ 57.1 million (PHP3 billion) worth of claims. National Disaster Risk Reduction and Management Council estimates that 1.7 million people were affected by the flooding.