BUDAPEST: Hungarian Prime Minister Viktor Orban's cabinet chief said on Thursday there is a chance for an agreement on the European Union's next budget and recovery fund as the bloc's leaders met for a crunch summit.

"There is a compromise, which is acceptable for Germany and meets the conditions of Hungary and Poland, therefore, there is a chance that we can book this victory at today's EU summit and heads of state and government can approve the documents ... unanimously," Gergely Gulyas told a press briefing.