Party members begin voting Wednesday to select a new leader.
On Friday, Cere told The Canadian Press he had not yet raised the $10,000 he needs to continue in the race.
Cere has until 5 p.m. Tuesday to raise the necessary amount.
WATCH: The PQ leadership race so far
Cere will announce his decision in a news conference Sunday afternoon.
READ MORE:Jean-François Lisée withdraws from PQ…
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