The article analyses the key political and socioeconomic problems of the contemporary development of Thailand which is currently powered by military. The author investigates the roots of coup d'etat undertaken by them in May 2014. It was caused by deep confrontation of political forces which is due to remain in latent form up to-day in spite of the fact that military have established a strict police regime in the country. The article examines the main directions of internal and foreign policy conducted by the military regime aimed at strengthening its socio-economic and political basis of power. In its foreign policy Thailand has been turning to China, what can be explained by its intention to find new strategic partner when relations with the USA have been cooling and by its pragmatic economic interests priority of which is rising while the economic situation is worsening. This can result in credibility gap of regime planning to stay until mid 2017. The author concludes that the promise of the military to hold general elections and return to democracy in the country in due time may not be fulfilled taking into account their intention to keep power as long as possible and ambitions of leadership. Political situation may become more complicated in case of death of monarch who embodies the stability of political system in Thailand. The military may seize the opportunity of increasing instability as the pretext to strengthen their position to which they are preparing by designing new constitution restricting the democratic ground for public administration. The return of Thailand to democracy seems illusory.