diff --git a/package.json b/package.json
index d88b7ab186..bfed5d987c 100644
--- a/package.json
+++ b/package.json
@@ -1,8 +1,8 @@
 {
     "name": "azle",
-    "version": "0.19.0",
+    "version": "0.20.0",
     "rust_version": "1.73.0",
-    "dfx_version": "0.15.1",
+    "dfx_version": "0.16.1",
     "description": "TypeScript and JavaScript CDK for the Internet Computer",
     "scripts": {
         "typecheck": "tsc --noEmit",