Table:
| USDm | 2019 | 2018 | 2017 |
| --- | --- | --- | --- |
| Interest expenses: | - | - | - |
| Financial expenses arising from lease liabilities regarding right-of-use assets | 2.4 | 2.3 | 1.8 |
| Other financial expenses | 39.5 | 37.0 | 38.8 |
| Total | 41.9 | 39.3 | 40.6 |
Paragraphs:
NOTE 7 - continued
Lease payments not recognized as a liability The Group has elected not to recognize a lease liability for short-term leases (leases of an expected term of 12 months or less) or for leases of low value assets. Payments made under such leases are expensed on a straight-line basis. The expenses relating to payments not recognized as a lease liability are insignificant.
Administrative expenses The total outflow for leases, USD 2.9m, is presented as “Depreciation” of USD 2.5m and “Financial expenses” (interest) of USD 0.4m, in contrast to the recording of an operating lease charge of a materially equivalent figure within the line item “Administrative expenses” under IAS 17.
Financial expenses
Financial expenses for the reporting periods:
Question:
What was the percentage change in the total financial expenses in 2019 from 2018?
Answer: (41.9-39.3)/39.3 = 6.62