South Korea is expected to post a fiscal surplus in 2014 mainly thanks to effective government-led spending plans amid fast-rebounding economic conditions, the International Monetary Fund said in a report Monday.

According to the report, South Korea will see the ratio of its fiscal surplus to gross domestic product (GDP) reach 2.6 percent in 2014, a sharp turnaround from a 2.7 percent deficit predicted for 2010.

South Korea, Asia's fourth-largest economy, are among the few members of the Group of 20 emerging and advanced countries whose fiscal balance is expected to post a surplus in the cited year, Yonhap News Agency reported.

The data suggest that the Seoul government will likely meet its target year of 2014 to turn its fiscal status into the black by streamlining spending, after unveiling a series of stimulus measures over the past year including tax reductions and an additional budget aimed at resuscitating the slumping economy.

Japan's fiscal soundness will remain in bad shape with the deficit-GDP ratio rising to 8 percent in 2014, the worst among the G20 countries, according to the IMF.

Britain, the United States and India are expected to register deficit-GDP ratios of 6.8 percent, 6.7 percent and 5.3 percent, respectively.

The upbeat outlook for South Korea's fiscal status comes as its economy is making a faster-than-expected rebound from a steep downturn caused by the financial turmoil and a resulting global recession last year.

On Sunday, the Korea Development Institute, a state-run think tank, predicted that South Korea's economy will grow 0.2 percent this year in the latest upward revision in positive territory.

Meanwhile, the international funding organization predicted that the ratio of South Korea's debt to GDP will decline to 35.4 percent in 2014 from an estimated 39.4 percent in 2010.