From an image circulated on social media.
Title: Vicious cycle of Thai economy
1st row: left: Chavalit caused the Tom Yum Kung Crisis and borrowed money from IMF. Thaksin was a Deputy PM. [This refers to the baht devaluation panic caused by PM Chavalit’s mismanagement of the economy in 1997.]
Middle: Chon [former PM Chuan] solved the problem and exports were revived. The Finance Ministry had a treasury balance.
Right: Thaksin took money from Chon’s government together with more loans to pay IMF’s debt and launched a massive populist policy.
2nd row: Samak + Somchai, there was the US financial crisis and the treasury balance had only 50 billion baht.
Middle: Mark [former PM Abhisit] solved the problem. The economy was revived. GDP growth was second place in Asia and [Thailand] had a treasury balance of 300 billion baht!!
3rd picture from the left: Poo [former PM Yingluck] spent a massive amount from the treasury balance. The rice pledging scheme lost more than 500 billion baht.
Right: Uncle Tu [PM Prayuth] tried to solve all the problems left by Poo.
[This cycle implies that while Thaksin and his allies cause financial problems for the country, while other groups end up having to solve the problems.]
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