diff --git a/src/Makefile b/src/Makefile
index 65ddfa319..c36d7c102 100644
--- a/src/Makefile
+++ b/src/Makefile
@@ -12,7 +12,7 @@ LIBDIR  = $(PREFIX)/lib
 DLLDIR  = $(BINDIR)
 
 # Library version number
-VER_MAJOR = 1
+VER_MAJOR = 2
 VER_MINOR = 0
 VER_RELEASE = 0
 
diff --git a/src/global.h b/src/global.h
index b39264eae..fc1282a49 100644
--- a/src/global.h
+++ b/src/global.h
@@ -144,7 +144,7 @@ typedef int16_t coeff_t;
 
 // NOTE: When making a release, remember to also bump library version in
 // Makefile, if necessary.
-#define KVZ_VERSION 0.7.0
+#define KVZ_VERSION 0.7.1
 #define VERSION_STRING QUOTE_EXPAND(KVZ_VERSION)
 
 //#define VERBOSE 1