Is the monthly wage (minimum) now 5 dollars, that would make most people unable to carry on living. Even in India the poorest make more then a dollar a day for a while now, as I understand it anyway. Sounds like an uncertain situation.
Live
is very difficult for the majority of people:
https://www.caracaschronicles.com/2018/02/21/encovi-2017/But the ruffly 5,4 dollars per month are based on a valuation of the minimum wage according to a market exchange rate and not according to purchasing power parities. Some goods are
extremely cheap in Venezuela because of subsidies. Those numbers of people living on one dollar a day you mention are based on purchasing power parities.
But again, in January 2018 the income of a family of five with two earners of a minimum wage including food allowances only would cover 9,6% basic needs! (That's based on prices in Venezuela.)