Jakarta - The world economic turbulences prompted by monetary crisis and hikes in  crude and food prices are expected to slow down Indonesia's industrial growth to between 5 and 5.5 percent, Industry Minister Fahmi Idris said.

The minister made the remark after the signing of a Memorandum of Understanding between the Directorate General of Small and Middle Scale Industries (IKM) and Mitsubishi Corporation on the establishment of a joint website for the promotion of IKM products here on Monday.

Fahmi said  fuel oil price hikes would prompt businesses to make adjustments to their production costs and product prices in order to achieve balance.

"With the new established prices we will  revise our economic growth projections. Certain sectors affected by the monetary crisis and price turbulences in oil and food will also affect their respective growth rates," the minister said.

 - Source : Antara News Agency, 13 May 2008