Up to 30 per cent of total bank loans may be restructured under the government’s scheme, while local corporates may need up to Bt1.7 trillion liquidity injection to survive the Covid-19 fallout, economists warned, predicting that it will take a while for the economy to fully recover.

The Bank of Thailand’s report for May shows that the Thai economy continued contracting substantially due to a drop in external demand, both in the tourism sector and in export.