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During J. R. Jayewardene's presidency, what event significantly increased the role of private enterprises?
Open Economy Policy
War Breakout
Economic Reform
Civil War
Answer
Open Economy Policy significantly increased the role of private enterprises in Sri Lanka during J. R. Jayewardene's presidency. This policy, which was introduced in 1977, aimed to reduce the role of the government in the economy and increase the role of private enterprises. It did this by liberalizing the trade regime, deregulating the economy, and privatizing state-owned enterprises.
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