<p>This article presents results of the analysis of the institutional capabilities to counter hybrid threats. The results are based on assessments made by Bulgarian experts and provide a perspective on the development of institutional capabilities to execute national security system’s functions. The analysis leads to a conclusion that the country is capable to effectively counteract the potential hybrid threats, provided that the identification of the threats happens at an early stage and the strategy of counteracting is built on a realistic assessment of existing institutional capabilities, possibilities for their flexible use, and offsetting their deficits.</p>