diff --git a/multiversx_sdk_cli/config.py b/multiversx_sdk_cli/config.py
index 37f3a28d..9ec63732 100644
--- a/multiversx_sdk_cli/config.py
+++ b/multiversx_sdk_cli/config.py
@@ -157,7 +157,7 @@ def get_defaults() -> Dict[str, Any]:
         "dependencies.rust.resolution": "SDK",
         "dependencies.rust.tag": "nightly",
         "dependencies.golang.resolution": "SDK",
-        "dependencies.golang.tag": "go1.18.4",
+        "dependencies.golang.tag": "go1.20.5",
         "dependencies.golang.urlTemplate.linux": "https://golang.org/dl/{TAG}.linux-amd64.tar.gz",
         "dependencies.golang.urlTemplate.osx": "https://golang.org/dl/{TAG}.darwin-amd64.tar.gz",
         "dependencies.golang.urlTemplate.windows": "https://golang.org/dl/{TAG}.windows-amd64.zip",
diff --git a/pyproject.toml b/pyproject.toml
index e8e82d36..e942c4fc 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -4,7 +4,7 @@ build-backend = "hatchling.build"
 
 [project]
 name = "multiversx-sdk-cli"
-version = "7.2.0"
+version = "7.2.1"
 authors = [
   { name="MultiversX" },
 ]