Former FM Surapong warns of new round of Tom Yam Kung crisis
Former foreign minister Surapong Towichakchaikul Sunday warned the government of Prime Minister Prayut Chan-o-cha to stop its “over-spending” practice for fear that it would cause a financial crisis similar to the Tom Yum Kung crisis in 1997.
Surapong said the Prayut government has been spending more than what it could earn, especially for weapon buying.
Surapong said the government sidestepped inadequate budget by making the weapons procurement, such as the plan to buy a submarine, under commitment of several budget years.
He said the overspending practice would require the country to spend from its reserves and this could cause the financial crisis in the future and Thai children would be born debtors.
“Some groups of people may praise the government as having a capable economic team and as being good at fighting against corruption. But I don’t want to see the country hit by a Tom Yam Kung crisis for the second time,” Surapong said.
He urged the government to hold the next election soon so that the country would have an elected government to solve the national problems before it would be too late.
