Singapore’s 4Q GDP is likely to rebound 10.5% on-quarter, seasonally-adjusted, annualized vs 18.7% contraction in 3Q; 2010 GDP likely +15.2% on-year, above government expectations, Credit Suisse says in a report.

Adds, “government revenues are likely to come in much higher than expected, thanks in part to the surge in betting revenues from the two new casinos, stamp duties from property transactions, and higher goods and services tax revenues from the rebound in retail sales.”

House expects a fiscal surplus at 0.8% of GDP in FY 2010 vs a 1.0% deficit budgeted. With stronger economic growth, the Monetary Authority of Singapore is likely to remain on a “tightening bias,” report says.