Thai economy faces severe shocks, slow recovery chief

BANGKOK, Oct 20 (Reuters) - Thailand’s economy faces severe shocks from the coronavirus pandemic and a recovery is expected to take at least two years to get back to pre-pandemic levels, the country’s new central bank governor said on Tuesday.

Economic problems can be solved but it will take time as there are “no magic bullets”, Bank of Thailand Governor Sethaput Suthiwartnarueput told a briefing.

The country had a strong external position to withstand any shocks, said Sethaput, who took office this month.

Southeast Asia’s second-largest economy could contract a record 7.8% this year, with the important tourism sector badly hit, the central bank has predicted.

Reporting by Orathai Sriring, Kitphong Thaichareon and Satawasin Staporncharnchai, Editing by Ed Davies