The country's Finance Minister Vera Daves de Sousa said on Friday, adding that the situation made a request for an International Monetary Fund (IMF) loan programme more likely.

Sub-Saharan Africa's second-biggest crude oil exporter has based its 2025 budget on an oil price of $70 per barrel, but Brent oil futures briefly traded below $60, the lowest level in four years, after United States President Donald Trump announced sweeping tariffs on April 2. The contract settled at $66.91 on Friday.

"We are rolling out stress test scenarios," Daves de Sousa told Reuters in an interview on the sidelines of the IMF and World Bank spring meetings in Washington.

While a smaller decline in oil prices could trigger a freeze in some spending, a drop to $45 would likely require a supplementary budget, de Sousa said.

The government is working on measures to mitigate the impact of lower oil prices on the revenue side, make tax administration more efficient, and boost enforcement of property taxes, she said.

The oil price drop and recent turmoil in fixed-income markets, especially US Treasuries, has been felt keenly by many smaller, riskier emerging economies, including Angola, which has suffered a sharp drop in its international bonds.

--Reuters--