KONTAN.CO.ID - JAKARTA, Sept 24 - The Indonesian parliament's budget committee on Thursday approved total government spending of 4,106.3 trillion rupiah ($231 billion) in the 2027 budget, with the fiscal deficit forecast at 2.40% of GDP, the committee chair said.

The committee also approved a state revenue target of 3,435.1 trillion rupiah, chair Said Abdullah said.

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Both figures were 9.1 trillion rupiah higher than the initial budget proposal presented to parliament by President Prabowo Subianto in August.

The higher spending was due to an increase in allocations for ministries and agencies, the committee chair said, with the revenue target raised by the same amount to keep the fiscal deficit unchanged.

Investors have been closely watching Prabowo's spending plans amid concerns about their impact on fiscal discipline and debt levels.

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The budget worries have been one of the factors weighing on the rupiah this year, which hit a record low against the dollar in June. The rise of global oil prices in recent weeks has added to concerns about the fiscal outlook, renewing pressure on the currency.

The budget committee's decision is expected to receive approval in a broader parliamentary vote at a later date.