The success of transformation to a circular economic model mainly depends on effective government interventions. The objective of this paper is to reveal the implementation schemes, actors in charge, and funding mechanisms of the circular economy action plan in Greece. Additionally, a comparison has been made concerning the waste management governance practices in Armenia given a few distinct political, social, economic and behavioral characteristics common to both countries. Special emphasis was put on the food industry, since it generates a large amount of waste annually with limited by-product valorization and recycling rate. A comprehensive document analysis has been conducted with deductive or concept-driven approach using the software Atlas.ti. Research results highlighted several deficiencies existing within the policy papers and a set of recommendations covering critical success factors such as education, finance, cooperation, market development, monitoring, and evaluation related to the system change were offered. By addressing these deficiencies, policymakers may ensure an environment conducive to circularity practices and facilitate the transition to a more sustainable and resource-efficient economy.