Once you are on the other side, slow time (L1 + R1), but make sure you're in a straight line from the statue so you can activate the slowing of the time. After you've done that, get to the other side of the path by running and swimming through the water. From there, push it to the edge of the water from the pathway you came.
Note: Both of these numbers still work as of ! (God of War II) Hint: The Urn of OlympusĪfter you obtain the Spear of Destiny, grab the Statue of Fate (time slowing) and push it down the stairs.