Bulgarian relations with Greece, a traditional enemy, were stable throughout the 1970s and 1980s, in spite of major government changes in both countries. Zhivkov made this stability a model for the overall Balkan cooperation that was a centerpiece of his foreign policy in the 1980s. In 1986 the two countries signed a declaration of good-neighborliness, friendship, and cooperation that was based on mutual enmity toward Turkey and toward Yugoslav demands for recognition of Macedonian minorities in Bulgaria and Greece. An important motivation for friendship with Greece was to exploit NATO's Greek-Turkish split, which was based on the claims of the two countries in Cyprus. In early 1989, Bulgaria signed a ten-year bilateral economic agreement with Greece.

The main historical issue between Bulgaria and Greece, disposition of their Macedonian minorities, was settled during the 1970s after that time, the parties adopted mutual policies of strict noninterference in internal affairs. In mid-1991 the possibility of independence for Yugoslav Macedonia threatened to renew tension in that area. Post-Zhivkov Bulgarian policy toward Greece remained very conciliatory, however in 1991 Zhelev stressed cooperation with Greece as a foundation for Balkan stability and reassured the Greeks that Bulgarian rapprochement with Turkey did not threaten this relationship.

Data as of June 1992