With an unprecedented budget deficit and a growing inflation, Thailand named its new finance minister in the person of Surapong Suebwonglee, a former doctor who turned to politics, according to a statement released by the royal office. Surapong is a former health minister and former communication minister during Prime Minister Thaksin Shinawatra’s government.

Other 36 members of the cabinet took their oath in front of King Bhumibol Adulyadej after being endorsed. At the same time, Prime Minister Samak Sundaravej also took on the role of defense minister and Noppadon Pattama was appointed foreign minister, according to the same statement.

Both Surapong Suebwonglee and Noppadon Pattama were close to former Prime Minister Thaksin Shinawatra, who has been in self-imposed exile since 2006. The strange situation is however that most members of the newly appointed cabinet are mostly allies of Thaksin.

In 2006, Thaksin was accused of corruption, and his government was overthrown in September that same year, after he had been re-elected. Following the events, the constitution was abrogated, the martial law was declared and a new Prime Minister was appointed.

Several months later the martial law was partially revoked, a new constitution was approved and on December 23, 2007, democratic elections were held, for the first time after the Council of National Security overthrew Thaksin’s government.

Thailand’s economy heavily depends on exports, which account for 60% of the GDP. But following the 2006 coup, the country’s economy stagnated in 2007. “The finance minister’s position needs a person with profound knowledge of economy and finance to cope with the current turmoil,” said Panitan Wattanayagorn, political analyst at Chulalongkorn University in Bangkok, Bloomberg reported.” There will be some lack of confidence in Surapong because he has no proven record in this field.”