KIEV, June 13 - Ukraine's balance of payments in 2013 is expected to shrink to 7% of GDP this year, from 8.4% of GDP last year, First Deputy Prime Minister Serhiy Arbuzov said.

"In the medium term, we are planning to reach 3-4% of GDP," he said at a conference "ABC: Ukraine and Partners" in Kiev.

He said that for the first four months of last year the foreign trade deficit was $4 billion, and over the first four months of this year - $2.8 billion.