JAKARTA -- Indonesian Finance Minister Budiono on Sunday said the devastating Bali blasts will pressure the country's economic growth below the four percent forecast earlier for 2002 and five percent for 2003.

"On our growth, we can estimate that there will be a slight decrease," Budiono told journalists, but declining to give figures.

He said fallout from the October 12 Bali blast, that left more than 190 killed, would impact on the exchange rate of the rupiah, inflation and oil prices.

Indonesia has projected four percent economic growth for 2002.

Analysts have lowered their growth forecasts of 3.4-3.8 percent before the blast to 3.1- 3.3 percent.

They cited a rising risk premium and falling consumer confidence.

"We will discuss this with the Bank Indonesia because interest rates and inflation is very much under the influence of the Bank Indonesia monetary policies," Budiono said. "We will have to look for a more appropriate balance between fiscal consolidation and fiscal stimulus."

Less than a week after the Bali attack, top Economics Minister Dorodjatun Kuntjoro-jakti said Indonesia maintained a target of five percent growth for 2003, but most analysts cut their forecast for next year to between three and four percent, AFP reported.

Indonesia has yet to fully recover from the crippling economic crisis that hit it in mid-1997.