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19 sie 2017 · 1977 was a turning point in post-colonial Sri Lanka. The right-wing United National Party returned to government in a landslide victory after seven fractious years in the opposition. The components of the previous left-wing coalition government were politically discredited and electorally crushed.
The Sri Lanka economy which grew at an average rate of 3.5 per cent during the last five years achieved a higher but modest growth rate of 4.4 per cent in 1977. An improved performance by domestic agriculture, services, trade, transport and communication sectors was largely responsible for this development.
Economic Phases. Towards an Open Economy (1977-2005) This is an era with an emphasis on liberalization and a rapid move towards market economy reforms that are aimed at facilitating the country to reap the maximum benefits of globalization.
Editorial: 1977 & After: 40 Years of the Open Economy in Sri Lanka 1977 was a turning point in post-colonial Sri Lanka. The right-wing Unied National Party returncd to government in a landslide victory after seven fractious years in the opposition. The components of the previous left-wing coalition government were
In 1977, the newly elected government of the United National Party (UNP) introduced a package of economic reforms aimed at opening up the Sri Lankan economy to external trade and investment.
In 1977, a complete turnaround in the country’s economic policy was initiated with the introduction of a market-oriented policy package featuring the deregulation of market activities and the reduction of direct government participation in the economy.
times. On average, Sri Lanka has been able to maintain a growth rate of 3-4 percent between 1950 and 1977 and 5-6 percent thereafter. Sri Lankan economy has shown remarkable resilience to both internal and external shocks such as oil crisis, droughts, riots and civil war. The country was able to maintain positive growth rates
