diff --git a/setup.cfg b/setup.cfg
index 0a060663e..b840db734 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -23,7 +23,7 @@ project_urls =
 [options]
 packages = find_namespace:
 install_requires =
-    dbt-core~=1.1
+    dbt-core~=1.2
     firebolt-sdk>=0.10.0
 python_requires = >=3.7
 include_package_data = True
@@ -36,7 +36,7 @@ include = dbt, dbt.*
 
 [options.extras_require]
 dev =
-    dbt-tests-adapter~=1.1
+    dbt-tests-adapter~=1.2
     mypy==0.910
     pre-commit==2.15.0
     pytest==7.*